Winston Company sells magazine subscriptions for one- to three-year subscription periods. Cash receipts from subscribers are credited to Magazine Subscriptions Collected in Advance, and this account had a balance of $9,600,000 at December 31 . 2013 . before year-end adjustment. Outstanding subscriptions at December 31 . 2013 . expire as follows: During 2014
......................................... $2,600,000 During 2015 ......................................... 3,200,000 During 2016 ......................................... 1,800,000 In its December 31 . 2013 . balance sheet, what amount should Winston report as the balance for magazine subscriptions collected in advance?
a. $2,000,000
b. $3,800,000
c. $7,600,000
d. $9,600,000
C
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