On June 1, Kids Crafts Magazine collected cash of $90,000 on future annual subscriptions starting on July 1 Requirements 1. Journalize the transaction to record the collection of cash on June 1 2. Journalize the transaction required at December 31, the company's year-end, assuming no revenue earned has been recorded (Round adjustment to the nearest whole dollar) *** Requirement 1. Journalize the transaction to record the collection of cash on June 1. (Record debits first, then credits Select the explanation on the last line of the journal entry table) Date Accounts and Explanation Debit Credit Jun 1