On October 1, 2019, Paige Turner Publishing Received $5,400 in Cash

On October 1, 2019, Paige Turner Publishing received $5,400 in cash for subscriptions covering one year, recording the entry as a debit to Cash and a credit to Unearned Subscriptions. The correct adjusting entry at December 31, 2019, is

A) Debit Unearned Subscriptions $1,350; credit Subscriptions Income $1,350.
B) Debit Unearned Subscriptions $450; credit Subscriptions Income $450.
C) Debit Unearned Subscriptions $5,400; credit Subscriptions Income $5,400.
D) Debit Subscriptions Income $1,350; credit Unearned Subscriptions $1,350.

Correct Answer:

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