The Riesen Publishers (TRP) is a publisher of magazines. Its accounting policy for subscriptions follows:

Revenues

Revenues from our magazine subscription services are deferred initially and later recognized as revenue as subscription services are provided.

Assume TRP (a) collected $650 million in 2021 for magazines that will be distributed later in 2021 and 2022, (b) provided $319 million of services on these subscriptions in 2021, and (c) provided $331 million of services on these subscriptions in 2022.

Required:

1. Using the information given, indicate the accounts, amounts, and accounting equation effects of transactions (a), (b), and (c). (Enter any decreases to assets, liabilities, or stockholders equity with a minus sign. Enter your answers in whole dollars.)