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The Riesen Publishers $($TRP$)$ 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 TRP $($a$)$ collected $$440$ million in $2021$ for magazines that will be distributed later in $2021$ and $2022,($b$)$ provided

$$214$ million of services on these subscriptions in $2021,$ and $($c$)$ provided $$226$ million of services on these subscriptions in

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.$)$

Journal entry worksheet

Record the collection of $$440,000,000$ for magazine subscriptions to be

delivered later in $2021$ and $2022.$