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Carla Vista Co. Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $30 per year. During November 2022, Carla Vista sells 7,280 subscriptions for cash, beginning with the December issue. Carla Vista prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue. The company has a December 31 year-end.

Prepare a tabular summary to record the following events.

(a)	Receipt of the subscriptions in November.
(b)	Adjustment at December 31, 2022, to record subscription revenue in December 2022.

Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)

Assets

=

Liabilities

+

Stockholders Equity

Pd. in Cap.

Retained Earnings

Cash

=

Unearned Subscrip. Revenue

+

Common Stock

+

Revenue

-

Expense

-

Dividend

select an account title: Interest expense, Bank charges expense, Subscription revenue, Miscellaneous expense.

Nov.

$218400

$218400

?

Dec. 31

18200

Subscription revenue

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