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Requlred Information [The following information applies to the questions cisplayed beiow] The Tennis Times (TTT) is a publisher of magazines. Its accounting policy for subscriptions
Requlred Information [The following information applies to the questions cisplayed beiow] The Tennis Times (TTT) is a publisher of magazines. Its accounting policy for subscriptions follows: Whathues Hevecues froe eur magazine sobeription services are Gererred initially and latar recognized as revenue as subicriation services are provided. Assume TT (a) collected $420 million in 2021 for magazines that wil be distributed later in 2021 and 2022 . (b) provided $204 million of services on these subscriptions in 2021, and (c) provided 5216 million of services on these subscriptions in 2022 Aequlred: 1. Using the information given, indicate the accounts, amounts, and accounding equation effects of transactions (o). (o), and (a) (Enter any decreases to assets, llablities, or stochholders equity with o minus sign. Enter your answers in whole dollars.)
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