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Problem 1-22 (AICPA Adapted) Anette Video Company sells 1 and 2-year subscriptions for the video-of-the-month business. Subscriptions are collected in advance and credited to sales. An analysis of the recorded sales activity revealed the following: 2020 420,000 20,000 400,000 2021 500,000 30,000 Sales Less cancelations Net sales 470,000 Subscription expirations: 2020 2021 2022 2023 120.000 155,000 125,000 130,000 200,000 140,000 470,000 400,000 1, On December 31, 2021, what amount should be reported as unearned subscription revenue? a. 495,000 b. 470,000 c. 465,000 d. 340,000 2. What amount should be reported as subscription revenue for 2021? a. 175,000 b. 305,000 c. 285,000 d. 250,000