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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: Assume TRP (a) collected $460 million in 2021 for magazines that will be distributed later in 2021 and 2022 , (b) provided $224 million of services on these subscriptions in 2021, and (c) provided \$236 million of services on these subscriptions in 2022. 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.)
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