Explanation:

- Subscription received in advance: This is recorded when money is received for the next period, not for the current period. It counts as a receipt in the Receipts and Payments Account.

- Last year subscription received: Payments received for previous periods are recorded in this account as receipts. It’s essentially money received this year, regardless of when it was due.

- Current year subscription received: This is the most straightforward. It's money collected in the current period, clearly shown in the Receipts and Payments Account.

- All of the above: This option correctly includes all types of subscription receipts that would appear in the account.