MC Qu. 89 On January 2, 2015, AAA. On January 2, 2015, AAA Publishing, Inc. rece

Question

MC Qu. 89 On January 2, 2015, AAA. On January 2, 2015, AAA Publishing, Inc. received a one-year subscription for $100 to one of the magazines that it publishes. At that time, it debited cash for $100 and credited unearned revenue for $100. After all the magazines have becn delivered through Decemoor 31, 2015, what joumal ontry noeds to be recorded? O Debit Cash for $100 and credit Unearned Revenue for $100 O Debit Accounts Receivable for $100 and credit Subscription Revenue for $100 O Debit Accounts Recoivable for $100 and credit Unearned Revenue for $100 O Debit Unearned Revenue for $100 and credit Subscription Revenue tor $100

Explanation / Answer

Debit unearned revenue for $100 and credit subscription revenue for $100 Option 4 is correct

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