Physicians, Inc

Multiple Choice

Physicians, Inc. subscribes to three magazines and paid $140, $90 and $76 respectively, on 1 July. The subscriptions are for one year and are recorded in Prepaid Subscriptions when paid. Six months later on 31 December, what amount is recorded for 'magazine expense' and what is the balance of the Prepaid Subscription account? Magazine Expense Prepaid Subscriptions

A) $153 $153
B) $306 $306
C) $25.50 $153
D) $25.50 $306