Jericho Road Co. typically sells annual subscriptions to their magazine which is published six times each 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

Debit Cash account $600,000

Credit Unearned revenue from subscription $600,000

Explanation:

When a fee is received in advance for a service yet to be rendered, the revenue for such fee is said to be unearned. The entries required are

Debit Cash account and Credit Unearned fees or deferred revenue.

As the service is performed and the revenue is earned, debit Unearned fees and credit revenue.

Total subscription received = $10 * 60,000

= $600,000

Amount earned in January (after one in six publications)

= 1/6 * $600,000

= $100,000

the answer is d

explanation:

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