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On September 1, 2021, Fortune Magazine sold 300 one-year subscriptions for $73 each. The total amount received was credited to Deferred subscription revenue. What is
On September 1, 2021, Fortune Magazine sold 300 one-year subscriptions for $73 each. The total amount received was credited to Deferred subscription revenue. What is the required adjusting entry at December 31, 2021?
A.
Deferred subscription revenue | 7,300 | |
Subscription payable | 7,300 |
B.
Deferred subscription revenue | 7,300 | |
Subscription revenue | 7,300 |
C.
Deferred subscription revenue | 14,600 | |
Subscription revenue | 14,600 |
D.
Deferred subscription revenue | 21,900 | |
Subscription revenue | 7,300 | |
Prepaid subscriptions | 14,600 |
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