On August $28,2024,$ an online subscription service provider received a total of $$52,800$ in cash from $600$ customers for one$-$year subscriptions. The subscriptions begin in September. On receipt of the cash, the company recorded a liability, deferred subscription revenue. What is the required adjusting entry on December $31,2024?$

Multiple Choice

Account TitleDebitCreditDeferred subscription revenue$52,800$Subscription revenue$17,600$Prepaid subscriptions$35,200$

Account TitleDebitCreditDeferred subscription revenue$17,600$Subscription revenue$17,600$

Account TitleDebitCreditDeferred subscription revenue$17,600$Subscription payable$17,600$

Account TitleDebitCreditDeferred subscription revenue$35,200$Subscription revenue$35,200$