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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

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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: Revenuen Revenues fron our magazine abbeription nervicen are deferred initialiy and later recognized as revenue as subseription servicen are provided. Assume TRP (a) collected $550 million in 2021 for magazines that will be distributed later in 2021 and 2022, (b) provided $269 million of services on these subscriptions in 2021 , and ( d ) provided $281 million of services on these subscriptions in 2022. 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.) Journal entry worksheet Record the collection of $550,000,000 for magazine subscriptions to be delivered later in 2021 and 2022. Journal entry worksheet 3 Record the collection of $550,000,000 for magazine subseriptions to be delivered tater in 2021 and 2022 . Note Enter debits before cedits. Journal entry worksheet 3 Record the service revenue of $260,000,000 earned in 2021. Note: Enter debles tefere credas Journal entry worksheet Record the service revenue of $281,000,000 eamed in 2022 . Note: Enter debits before credits

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