On April 1,Garcia Publishing Company Received $1,548 from Otisco,Inc

Multiple Choice

On April 1,Garcia Publishing Company received $1,548 from Otisco,Inc.for 36-month subscriptions to several different magazines.The company credited Unearned Fees for the amount received and the subscriptions started immediately.Assuming adjustments are only made at year-end,What is the adjusting entry that should be recorded by Garcia Publishing Company on December 31 of the second year?

A) debit Unearned Fees,$1,548; credit Fees Earned,$1,548.
B) debit Unearned Fees,$516; credit Fees Earned,$516.
C) debit Unearned Fees,$1,161; credit Fees Earned,$1,161.
D) debit Unearned Fees,$129; credit Fees Earned,$129.
E) debit Unearned Fees,$387; credit Fees Earned,$387.