Real Losers,a Diet Magazine,collected $360,000 in Subscription Revenue in May $$\begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline\end{array}$$

Essay

Real Losers,a diet magazine,collected $360,000 in subscription revenue in May.Each subscriber will receive an issue of the magazine for each of the next 12 months,beginning with the June issue.
-The company uses the accrual method of accounting.What entry is recorded when the cash is collected in May?
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