(Answered) Question - pickett company typically sells subscriptions on

Accounting

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

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