Try another version of this question On June 1, Gardening Green Magazine collected cash of $85,900 on future annual subscriptions starting on July 1.
Date Description Debit Credit June 1 June 1 December 31 December 31 Date Description Debit Credit June 1 Cash 85,900 June 1 Unearned Revenue 85,900 December 31 Unearned Revenue 42,950 December 31 Sales Revenue 42,950