Question - Pickett Company typically sells subscriptions on an annual basis, and publishes six times a year. The magazine sells 60,000 subscriptions in January at $15 each. What entry is made in January to record the sale of the subscriptions?
Cash 900,000
Unearned Subscription Revenue 900,000
Prepaid Subscriptions 900,000
Cash 900,000
Subscriptions Receivable 150,000
Unearned Subscription Revenue 150,000
Subscriptions Receivable 900,000
Subscription Revenue 900,000