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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
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 $450 million in 2021 for magazines that will be distributed later in 2021 and 2022. (b) provided $219 million of services on these subscriptions in 2021, and (a provided $231 million of services on these subscriptions in 2022 Stockholders' Equ Assets Liabilities
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