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Ramsey Company typically sells subscriptions on an annual basis, and publishes six times a year. The magazine sells 60,000 subscriptions in January at $10 each. What entry is made in January to record the sale of the subscriptions?

A) Subscriptions Receivable: 600,000 Subscription Revenue: 600,000

B) Cash: 600,000 Unearned Subscription Revenue: 600,000

C) Subscriptions Receivable: 100,000 Unearned Subscription Revenue: 100,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9401870

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