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The Rlesen 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 $ million In for magazines that will be distributed later in and b provided
$ million of services on these subscriptions in and provided $ million of services on these subscriptions in
Using the information given, prepare the journal entrles that would be recorded for ab and cIf no entry is required for a
transactionevent select No Journal Entry Requlred" In the first account field. Enter your answers In whole dollars.
Journal entry worksheet
Record the collection of $ for magazine subscriptions to be
delivered later in and
Note: Enter debits before credits.
