What is the journal entry to record a one-year subscription for a magazine?

In this case, company wants to pass the journal entry for one year subscription of a magazine, it means the company has paid the payment in advance for the whole year. so its JV will be record as

Prepaid-Magazine Expenses A/C   Dr

Bank/cash A/C                                     CR

Then on the end of the every month ( may be quarterly) , the the expenses will be booked as 

Magazine Expenses   A/C                     Dr

Prepaid-Magazine Expenses A/C       Cr

The Journal entry for the subscription will be:

Prepaid subscription - Magazine                         Debit

        Subscription payable - Magazine                Credit

And will be transferred into expense account at the end of every month:

Subscription expense - Magazine                      Debit

         Prepaid subscription - Magazine               Credit

And when it will be paid:

Subscription payable - Magazine                      Debit

         Cash / Bank                                                 Credit

Journal entry depends on the business nature of the entity and the amount spent. Usually subscription for a magazine will be paid up in advance for a year "approximately -",. So, the journal entries are: 

1. JV is: Payment prepared:

Debit : Prepaid for magazine A/C XXXXXXX (BS - Asset Group)

Credit : Vendor A/C XXXXXXX (BS - Liability Group)

2. JV is: Cheque/Cash Issued:

Debit : Vendor A/C XXXXXXX (BS - Liability Group)

Credit : Cash/Bank A/C XXXXXXX (BS - Asset Group)

3. JV is: Subscription received (Monthly till the end of prepaid amount)

Debit : Subscription/Magazine Expense A/C XXX (P&L Expense side)

Credit : Prepaid for magazine A/C XXX (BS - Asset Group)

Debit = Prepaid Subscription

Credit= Cash/Bank a/c

then for every month

 Debit= Subscription Expense

Credit=Prepaid subscription

Journal entry for prepaid 1 year magazine subscription (considering $ 1,200.00 p.a)

Prepayment (vendor company) A/C (DR)         $1,200.00

To Cash/Bank A/C (CR)                         $1,200.00

Monthly journal entry towards magazine expense.

Magazine Subscription Expense A/C (DR) $100.00

To Prepayment (vendor company) A/C (CR)         $100.00

1) Prepaid Expense Debit   xxx

       To Cash/Bank Account Cr    xxxx

2) Subscription Expense Debit     (Total Amount / No of Months)

    To Prepaid Expense   Credit        xxxxxx

Expense for the current month and prepaid expense for the rest of the month in a year. 

And will be amortize monthly.

The Simple journal entry for Subscription like when we mostly pay the full amount as advancePrepaid Subscription A/C

    Cash/ Bank

At the  end of every Month/Quarter

Subscription Expense A/C

    Prepaid Subscription A/C

One way to enter the transaction is to debit the current asset Prepaid Subscriptions for the amount and to credit Cash. At the end of each month you would make an adjusting entry to debit Subscriptions Expense and to credit Prepaid Subscriptions.

Debit = Prepaid Subscription

Credit= Cash/Bank a/c

Debit= Subscription Expense

Credit=Prepaid subscription

other way

Debit= Cash/Bank

Credit=Unearned revenue(Subscription Liabilities)

Debit= Unearned Revenue(subscription Liabilities)

Credit=Earn Revenue(subscriptions)

Debit the Pre-paid Subscription Account

&

Credit the Cash/ Bank account