The Tennis Times (TTT) is a publisher of magazines. Its accounting policy for subscriptions follows:RevenuesRevenues from our magazine subscription services are deferred initially and later recognized as revenue as subscription services are provided. Assume TTT (a) collected $490 million in 2018 for magazines that will be distributed later in 2018 and 2019, (b) provided $239 million of services on these subscriptions in 2018, and (c) provided $251 million of services on these subscriptions in 2019.

Question requires the journal entries to record a, b and c.

a.

Date         Account Title                                            Debit                 Credit

2018         Cash                                                  $490,000,000

                Unearned revenue                                                     $490,000,000

b.

Date         Account Title                                            Debit                 Credit

2018        Unearned revenue                            $239,000,000

               Service revenue                                                           $239,000,000

c.

Date         Account Title                                            Debit                 Credit

2019         Unearned revenue                          $251,000,000

                Service revenue                                                          $251,000,000

answer; i believe the correct answer is (75 years);