Vaughn Magazine sold 12,360 annual subscriptions on August 1, 2017, for $16 each. Prepare Vaughns August 1, 2017, journal entry and the December 31, 2017, annual adjusting entry, assuming the magazines are published and delivered monthly. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)