Magazines Galore Receives Subscription Money in Advance,and Has Received £50

Magazines Galore receives subscription money in advance,and has received £50 000 from customers on 1 February to cover the next ten issues of Wheels Galore.There are ten issues a year-one at the end of each month except for January and December.What are the appropriate accounting entries to record the receipt of the subscription money and (assuming no monthly entries have been made) the adjusting entry at 30 June (after June's issue has been mailed to subscribers) ?

A) $$\begin{array}{l}1 \text { February }\\\begin{array} { | c | l | c | c | } \hline \mathrm { Dr } & \text { Cash at bank } & 50000 & \\\hline \mathrm { Cr } & \text { Subscription revenue } & & 50000 \\\hline\\\hline { 30 \text { June } } & & \\\hline \mathrm { Dr } & \text { Subscription revenue } & 25000 & \\ \hline \mathrm { Cr } & \text { Subscriptions received in advance } && 25000 \\\hline\end{array}\end{array}$$
B) $$\begin{array} { | c | l | c | c | } \hline { \text { 1 February } } & \\\hline \mathrm { Dr } & \text { Subscriptions received in advance } & 50000 & \\\hline \mathrm { Cr } & \text { Cash at bank } & & 50000 \\\hline{ 30 \text { June } } & & \\\hline \mathrm { Dr } & \text { Subscription revenue } & 25000 & \\\hline \mathrm { Cr } & \text { Subscriptions received in advance } & & 25000 \\\hline\end{array}$$

C) $$\begin{array}{l}1 \text { February }\\\begin{array} { | c | l | c | c | } \hline \mathrm { Dr } & \text { Cash at bank } & 50000 & \\\hline \mathrm { Cr } & \text { Subscription revenue } & & 50000 \\\hline { 30 \text { June } } & & \\\hline \mathrm { Dr } & \text { Subscription revenue } & 20000 & \\\hline \mathrm { Cr } & \text { Subscriptions received in advance } && 20000 \\\hline\end{array}\end{array}$$

D) $$\begin{array}{l}1 \text { February }\\\begin{array} { | c | l | c | c | } \hline \mathrm { Dr } & \text { Cash at bank } & 50000 & \\\hline \mathrm { Cr } & \text { Subscriptions received in advance } & & 50000 \\\hline { 30 \text { June } } & & \\\hline \mathrm { Dr } & \text { Subscriptions received in advance } & 25000 & \\\hline \mathrm { Cr } & \text { Subscription revenue } & & 25000 \\\hline\end{array}\end{array}$$