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 $560 million in 2015 for magazines that will be delivered later in 2015 and 2016, and (b) delivered $274 million worth of magazines on these subscriptions in 2015.

Record the collection of $560,000,000 for magazine subscriptions to be delivered later in 2015 and 2016.

Record the subscription revenue of $274,000,000 earned in 2015.

Record the subscription revenue earned in 2016.