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 $570 million in 2018 for magazines that will be distributed later in 2018 and 2019. (b) provided $279 million of services on these subscriptions in 2018, and (c) provided $291 million of services on these subscriptions in 2019. quired: 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.) Liabilities Stockh Help Save & Ext Submit Check my work Assume TTT (collected $570 million in 2018 for magazines that will be distributed later in 2018 and 2019. provided $279 million of services on these subscriptions in 2018, and provided $291 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 (. (Enter any decreases to assets, liabilities, or stockholders equity with a minus sign. Enter your answers in whole dollars.) Transaction Assets Liabilities - Stockholders'Equity work Help Sav Assume TTT (a) collected $570 million in 2018 for magazines that will be distributed later in 2018 and 2019. (b) provided $279 million of services on these subscriptions in 2018, and provided $291 million of services on these subscriptions in 2019 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.) View transaction list Journal entry worksheet Record the collection of 5570,000,000 for magazine subscriptions to be delivered later in 2018 and 2019 nahi I rrante Prey S 7 II Next > Journal entry worksheet Record the collection of $570,000,000 for magazine subscriptions to be delivered later in 2018 and 2019. Note: Enter debits before credits General Journal Debit Credit Date 2018 Record entry Clementy Journal entry worksheet Record the service revenue of $279,000,000 earned in 2018. Note: Enter debits before credits. Date General Journal Debit Credit 2018 rewed information Journal entry worksheet
