If a company has advance subscription sales totaling $45,000 for the upcoming year, when four quarterly journals will mailed to customers, the receipt of cash would be journalized as:
A. Debit Unearned Revenue $45,000; credit Sales $45,000.
B. Debit Sales $45,000, credit Unearned Revenue $45,000.
C. Debit Prepaid Subscriptions $45,000, credit Sales $45,000.
D. Debit Cash $45,000, credit Accounts Payable $45,000.
E. Debit Cash $45,000; credit Unearned Revenue $45,000.
Answer: E
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