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Required information

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The Tennis Times $($TTT$)$ is a publisher of magazines. Its accounting policy for subscriptions follows:

Revenues

Revenues from our magazine subscription services are deferred initially and later

recognized as revenue as subscription services are provided.

Assume TTT:

a$.$ collected $$420$ million in $2024$ for magazines that will be distributed later in $2024$ and $2025,$

b$.$ provided $$204$ million of services on these subscriptions in $2024,$ and

c$.$ provided $$216$ million of services on these subscriptions in $2025.$

Required:

Using the information given, indicate the accounts, amounts, and accounting equation effects of transactions $($a$),($b$),$ and $($c$).$ If a transaction affects a temporary account, include the account name under "Temporary Accounts" and the financial effect under $"$NI$."$ Do not enter an amount under "Stockholders' Equity" for these transactions; their impact on stockholders' equity will occur later when the temporary accounts are closed at year$-$end. Do not enter No Effect $($NE$)$ or zero for any cells without an effect for each transaction despite what may be shown in textbook demonstration cases as these cells should be left blank.

Note: Enter any decreases to Assets, Liabilities, Stockholders' Equity, or Net Income with a minus sign. Enter your answers in whole dollars.