On March 31, Phoenix, Inc

Multiple Choice

On March 31, Phoenix, Inc. paid Melanie Publishing Company $15,480 for a 3-year subscription for five different magazines. The subscriptions started immediately. What is the amount of revenue that should be recorded by Melanie Publishing Company for each year of the subscription assuming Melanie uses a calendar reporting period?

A) $15,480; $0; $0; $0.
B) $5,160; $5,160; $5,160.
C) $3,870; $5,160; $5,160; $1,290.
D) $0; $0; $0; $15,480.
E) The answer cannot be determined based on the information given.