Explanation:

- Subscriptions received in advance are considered a liability for a club. This money is not yet earned and indicates what the club owes in services or access.

- Option:1, Assets Side: This is incorrect. Assets represent owned resources with economic value.

- Option:2, Liabilities Side: This is correct. Liabilities are obligations the club must fulfill, and advance subscriptions fit here until earned.

- Option:3, Debit Side: Debits refer to an increase in assets or expenses, or a decrease in liabilities or equity, in accounting entries. It’s not directly related to balance sheets.

- Option:4, Credit Side: Credits refer to an increase in liabilities or equity, or a decrease in assets or expenses, in accounting entries. This is about journal entries, not balance sheets.