Question: Required information E10-6 (Algo) Determining and Recording the Financial Statement Effects of Deferred Revenue [LO 10-2] [The following information apples to the questions displayed below]
Required information E10-6 (Algo) Determining and Recording the Financial Statement Effects of Deferred Revenue [LO 10-2] [The following information apples to the questions displayed below] The PSesen Publishers (TRP) is a publisher of magazines. lts accounting policy for subscriptions follows: Wevenoes froe oor nagazine aubseription nerwices ate theterred initially abd Iater recognized as revenue an tubseription services are provided. Assume TRP (a) collected $560 million in 2021 for magazines that will be distributed later in 2021 and 2022. (b) provided $274 million of services on these subscriptions in 2021 , and (d) provided $286 million of services on these subscriptions in 2022 E10.6 (Algo) Part 1 Required: 1. Using the information given, indicate the accounts, amounts, and accounting equation effects of transictions (a), (D), and (C). (Enter any decreases to assets, Nabilities, or stockholders equity with a minus sign. Enter your answers in whole dollars.)
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