write a memo explaining this error. You work in a company that has begun selling annual subscriptions to its new online magazine which is provided monthly. During December, the company sold the first subscriptions, receiving $$600,000,$ which represents one$-$fifth of its revenues from all sources for the year. The entire amount has been collected in cash. As the end of the the year approaches, you notice that the company recorded the entire $$600,000$ to revenue and there is no plan to make an adjusting entry.