Required information [ The following information applies to the questions displayed below. ] The Riesen Publishers (
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Required information
The following information applies to the questions displayed below.
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 $ million in for magazines that will be distributed later in and b provided
$ million of services on these subscriptions in and c provided $ million of services on these subscriptions in
Required:
Using the information given, indicate the accounts, amounts, and accounting equation effects of transactions a and cEnter
any decreases to assets, liabilities, or stockholders equity with a minus sign. Enter your answers in whole dollars.
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