S3-9 (book/static) Question Help Southern Magazine collects cash from subscribers in advance and then mails the magazines to subscribers over a one-year period. Requirements 1. Record the journal entry to record the original receipt of $150,000 cash. 2. Record the adjusting entry that Southern Magazine makes to record earning $9,000 in subscription revenue that was collected in advance 3. Using T-accounts, post the journal entry and adjusting entry to the accounts involved and show their balances after adjustments (Ignore the Cash account.) Requirement 1. Record the journal entry to record the original receipt of $150,000 cash. (Record debits first, then credits. Select the explanation on the last line of the journal ontry table.) Date Accounts and Explanation Debit Credit oc Score: 0 of 1 pt A 1 of 9 (0 complete S3-8 (similar to) On October 1, Boston Gold Exchange paid cash of $68,400 for computers that are expected to remain useful for three years. At the end of three year computers is expected to be zero Read the requirements > Requirement 1. Calculate the amount of depreciation for the month of October using the straight-line depreciation method Begin by selecting the labels, than enter the amounts and compute the amount of depreciation for the month of October (Abbreviation used, Acc. De Accumulated Depreciation Enter a "0" for any zoro balances) - 12 months - Straight-line depreciation Aco. Depreciation Contra Asset Cost Residual Value Useful Life