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A publisher receives cash for a magazine subscription during Year 1. The publisher sends magazines on a monthly basis to that customer in Year 2.

A publisher receives cash for a magazine subscription during Year 1. The publisher sends magazines on a monthly basis to that customer in Year 2. According to the revenue recognition principle, the publisher should report the related magazine subscription revenue in its income statement for Year 1 since it received cash for the magazine subscription in Year 1.\ \ \ Group startsTrue or False

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