Question 11 4 out of 5 points A On 15th June, 2021, readers of Goodnews magazine readers made a total 12,000 subscriptions @ $50 each for the magazine (each month subscription is 1000 magazines). Because the magazine readers are salaried workers, no cash was paid immediately but 100% cash was received on the 1st of July, 2021. Magazine delivery started at the end of July and will continue at the end of every month. The subscription covers a period of 12 months. Required i Prepare the company's journal records for 15th June, 2021 and 31st of July, 2021. (1 mark) ii Give three reasons the company should not credit subscription money to revenue accounts before expiry of the subscription. Your explanation should be about 3 complete sentences, only detailed and convincing explanation will attract full marks (2 marks) B 4 Goodstuff company borrowed $300,000 from Generous bank on 1st January, 2021. The loan is for a period of 8 months at 5 percent interest rate. If the company paid back all the principal and interest after the end of June 2021, assuming there is $1,000 penalty for cancelation, show the record in the company's account on 1st of January, 2021 and at the termination of the loan. (2 marks)