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Required information (The following information applies to the questions displayed below.] The Tennis Times (TTT) is a publisher of magazines. Its accounting policy for subscriptions

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Required information (The following information applies to the questions displayed below.] 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 $510 million in 2018 for magazines that will be distributed later in 2018 and 2019, (b) provided $249 million of services on these subscriptions in 2018, and (C) provided $261 million of services on these subscriptions in 2019. Required: 1. Using the information given, indicate the accounts, amounts, and accounting equation effects of transactions (a), (b), and (c). (Enter any decreases to assets, liabilities, or stockholders equity with a minus sign. Enter your answers in whole dollars.) Assets Liabilities Stockholders' Equity Transaction (a) (b) Cash Deferred Revenue Deferred Revenue Deferred Revenue Service Revenue Service Revenue

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