WSJ Co. received $100 cash from a customer on November 1, 2009 for the WSJ newspaper subscription for the year 2010. Which of the following is true for WSJ's accounting report?

Question 50 options:

$100 would appear on the balance sheet as prepaid expense.

$100 would appear on the income statement as subscription revenue earned.

$100 would appear on the statement of cash flows in cash flow from financing.

$100 would appear on the balance sheet as a liability.