Riesen Publishers is a publisher of magazines. Its accounting policy for subscriptions follows:

ne following informabon appies to the questions displayed below. 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 S500 million in 2015 for magazines that will be delivered later in 2015 and 2016, and (b) delivered $244 million worth of magazines on these subscriptions in 2015 value: 10.00 points 2. Using the information given, prepare the journal entries that would be recorded in 2015 and 2016. (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.) transaction list view transa Date 1. Record the collection of $500,000,000 for magazine subscriptions to be delivered later in 2015 and 2016. 2. Record the subscription revenue of $244,000,000 earned in 2015. 3. Record the subscription revenue earned in 2016. = journal entry has been entered