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Riesen Publishers is a publisher of magazines. Its accounting policy for subscriptions follows Revenues Sales of our magazine subscriptions are deferred (as unearned revenue) and

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Riesen Publishers is a publisher of magazines. Its accounting policy for subscriptions follows Revenues Sales of our magazine subscriptions are deferred (as unearned revenue) and recognized as revenues proportionately over the subscription period. Assume that Riesen Publishers (a) collected S520 million in 2015 for magazines that will be delivered later in 2015 and 2016, and (b) delivered $254 million worth of magazines on these subscriptions in 2015. References Section Break E10-6 Determining and Recording the Financial Statement Effects of Unearned Subscription Revenue LO 10-2] value: You did not receive full credit for this question in a previous a 10.00 points E10-6 Part 2 2. Using the information given, prepare the journal entries that would be recorded in 2015 and 2016. (lf 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 Import a new list Record the collection of $520,000,000 for magazine subscriptions to be delivered later in 2015 and 2016 1 Record the subscription revenue of $254,000,000 earned in 2015 2 be 3 Record the subscription revenue earned in 2016. Credit

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