Answer Part B only- Part A is correct

Exercise 10-10 (Part Level Submission) Pharoah Company Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $28 per year. During November 2022, Pharoah sells 6,900 subscriptions for cash, beginning with the December issue. Pharoah 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.

(a)

	Your answer is correct.

Prepare the entry in November for the receipt of the subscriptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Nov.	enter an account title for the entry in November for the receipt of the subscriptions cash	enter a debit amount 193200	enter a credit amount
	enter an account title for the entry in November for the receipt of the subscriptions unearned subscription revenue	enter a debit amount	enter a credit amount 193200

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(b)

Prepare the adjusting entry at December 31, 2022, to record subscription revenue in December 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31	enter an account title for the adjusting entry on December 31, 2017	enter a debit amount	enter a credit amount
	enter an account title for the adjusting entry on December 31, 2017	enter a debit amount	enter a credit amount