Answer:
To record the transaction for the annual subscriptions received in December 2013, but commencing in January 2014, the entry on January 31, 2014 you would do this:
Debit: Unearned Revenue (Liability) for $120,000
This represents the amount received for services that have not yet been provided.
Credit: Subscription Revenue (Income) for $120,000
This accounts for the revenue earned for the services provided in January 2014.
This entry recognizes the unearned revenue as a liability until the services are provided, at which point it is recognized as subscription revenue.
Hope this helps!