On June 1, Gardening Green Magazine collected cash of $87,700 on future annual subscriptions starting on July 1.

1. Journalize the transactions to record the collection of cash on June 1.
2. Journalize the transaction required at December 31, the magazine's year-end, assuming no revenue earned has been recorded. (round to nearest whole dollar)

Journal

Date	Description	Debit	Credit
June 1	A/PA/RCOGSCashMerchandise InventorySales RevenueSales Tax ExpenseSales Tax PayableUnearned Revenue
June 1	A/PA/RCOGSCashMerchandise InventorySales RevenueSales Tax ExpenseSales Tax PayableUnearned Revenue
December 31	A/PA/RCOGSCashMerchandise InventorySales RevenueSales Tax ExpenseSales Tax PayableUnearned Revenue
December 31	A/PA/RCOGSCashMerchandise InventorySales RevenueSales Tax ExpenseSales Tax PayableUnearned Revenue