Big Wheel Times collects cash from subscribers in advance and then mails the rollerblading magazines to subscribers over a one-year period.

1. Record the journal entry to record the receipt of cash for $166,600 received May 1.
2. Record the adjusting entry Big Wheel Times makes to record the earning of $9,100 May 31 for subscription revenue collected in advance.

Journal

Date	Description	Debit	Credit
May 1	Accounts ReceivableCashPrepaid RentRent ExpenseSalaries ExpenseSalaries PayableService RevenueSubscription RevenueUnearned Revenue
May 1	Accounts ReceivableCashPrepaid RentRent ExpenseSalaries ExpenseSalaries PayableService RevenueSubscription RevenueUnearned Revenue
May 31	Accounts ReceivableCashPrepaid RentRent ExpenseSalaries ExpenseSalaries PayableService RevenueSubscription RevenueUnearned Revenue
May 31	Accounts ReceivableCashPrepaid RentRent ExpenseSalaries ExpenseSalaries PayableService RevenueSubscription RevenueUnearned Revenue