On March 31, Phoenix, Inc. paid Melanie Publishing Company $20,880 for a 3-year subscription for five different magazines. The subscriptions started immediately. What is the adjusting entry that should be recorded by Melanie Publishing Company on December 31 of the first year if the credit to record the collection was made to Revenue account? O Debit Revenue Received in Advance, $6,960; credit Subscription Revenue, $6,960. O Debit Revenue Received in Advance, $1,740; credit Subscription Revenue, $1,740. O Debit Subscription Revenue, $5,220; credit Revenue Received in Advance, $5,220. O Debit Revenue Received in Advance, $20,880; credit Subscription Revenue, $20,880. O Debit Subscription Revenue, $15,660; credit Revenue Received in Advance, $15,660