The following information relates to the Better Lawns and Gardens Company at the end of December 2020. The company is a publisher of a monthly lawn and garden magazine. The company's revenue comes from two main sources: 1. Advertising sold to businesses that manufacture lawn and garden products, and 2. Customers who subscribe to the magazine. The company's accounting period follows a calendar year of January through December. 1. Employees are paid every Friday for the five-day week ending on that day. Salaries amount to $8,000 per week. This year, the company's current operating year concluded on Thursday, December 31, 2020. 2. A note for $4,800 was received from an advertising customer for a special one time advertising transaction on July 1, 2020. The note is due in one year, plus interest at 5%. 3. On October 1, 2020, the company borrowed $48,000 cash by signing a note payable due in one year at 6% interest. 4. An insurance policy was renewed at a total premium cost of $7,200 paid in full on September 1, 2020. The premium is for 12-months beginning September 1, 2020 5. On October 1, 2020, cash of $77,400 was received from subscribers (customers) for a special 24-month prepaid subscription beginning on November 1, 2020. The transaction was recorded by a debit to Cash and a credit to Unearned Subscription Revenue.