Question: Clips OnlineClips Online sells subscriptions for $ 3 6 $ 3 6 for 1 2 1 2 months. The company collects cash in advance and

Clips OnlineClipsOnline
sells subscriptions for
$ 36$36
for
1212
months. The company collects cash in advance and then subscribers have access to unlimited movies each month.
Apply the revenue recognition principle to determine
when
Clips OnlineClipsOnline
should record revenue for this situation.
the amount of revenue
Clips OnlineClipsOnline
should record for
threethree
months.
Question content area bottom
Part 1
a. Apply the revenue recognition principle to determine when
Clips OnlineClipsOnline
online should record revenue for this situation.
Clips Online should record revenue when

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