E10-6 (Algo) Determining and Recording the Financial Statement Effects of Deferred Revenue [LO 10-2] [The following information applies to the questions displayed below] The Riesen Pubilshers (TRP) 15 a publisher of magozines. Its accounting policy for subscriptons follows: 810-6(Algo) Part 1 Required: 1. Using the information given, indicate the accounts, amounts, and accounting equation effects of transactions (al. (b), and (c) (Enter any decreases to assets. Habilities, or stockholders equity with a minus sign. Enter your answers in whole dollars.) The Riesen Publishers (TRP) is a publisher of magazines. Its accounting policy for subscriptions follows: Hevenuen Hevenuas from our maghazine subscription sorvicen are deferred initially. and later recognized an revenue as ubbeription services are provided. Assume TRP (a) collected $480 million in 2021 for magazines that will be distributed later in 2021 and 2022, (b) provided $234 million of services on these subscriptions in 2021, and ( c ) provided $246 million of services on these subscriptions in 2022 E10-6 (Algo) Part 2 2. Using the information given, prepare the journal entries that would be recorded for (a), (b), and (c). (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in whole dollars.) 1 Record the collection of $480,000,000 for magazine subscriptions to be delivered later in 2021 and 2022. 2. Record the service revenue of $234,000,000 earned in 2021. 3. Record the service revenue of $246,000,000 earned in 2022