On September 1, 2018, Fortune Magazine Sold 600 One-Year Subscriptions

On September 1, 2018, Fortune Magazine sold 600 one-year subscriptions for $81 each. The total amount received was credited to deferred subscriptions revenue. What is the required adjusting entry at December 31, 2018?

A) $\begin{array}{|c|c|c|}\hline \text { Deferred subscriptionsrevenue } & 48,600 & \\\hline \text { Subscriptions revenue } & & 16,200 \\\hline \text { Prepaid subscriptions } & & 32,400 \\\hline\end{array}$
B) $\begin{array}{|c|r|r|}\hline \text { Deferred subscriptions revenue } & 16,200 & \\\hline \text { Subscriptions revenue } & & 16,200 \\\hline\end{array}$
C) $\begin{array}{|c|c|c|}\hline \text { Deferred subscriptionsrevenue } & 16,200 & \\\hline \text { Subscriptions payable } & & 16,20 0\\\hline\end{array}$
D) $\begin{array}{|c|r|r|}\hline \text { Deferred subscriptions revenue } & 32,400 \\\hline \text { Subscriptions revenue } & & 32,400 \\\hline\end{array}$