Requirements Game World collects cash from subscribers in advance and then provides online games to subscribers over a one-year period. Read the reguirements. 1. Record the journal entry to record the...

Extracted text: Requirements Game World collects cash from subscribers in advance and then provides online games to subscribers over a one-year period. Read the reguirements. 1. Record the journal entry to record the original receipt of $150,000 cash. Requirement 1. Record the journal entry to record the original receipt of $150,000 cash. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) 2. Record the adjusting entry that Game World makes to record earning $10,000 in subscription revenue that was collected in advance. Date Accounts and Explanation Debit Credit 3. Using T-accounts, post the journal entry and adjusting entry to the accounts involved and show their balances after adjustments. (Ignore the Cash account.) Print Done Requirement 2. Record the adjusting entry that Game World makes to record the earning of $10,000 of subscription revenue that was collected in advance. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Requirement 3. Using T-accounts, post the journal entry and adjusting entry to the accounts involved and show their balances after adjustments. (Ignore the Cash account.) (Use a "Bal." posting reference to show the ending balance on the appropriate side of each account.) Unearned Subscription Revenue Subscription Revenue