On April 1, Griffith Publishing Company received $2,088 from Santa Fe, Inc. for 36-month subscriptions to several different magazines. The subscriptions started immediately. What is the amount of revenue that should be recorded by Griffith Publishing Company for the first year of the subscription assuming the company uses a calendar-year reporting period?
a. $522
b. $0
c. $174
d. $58
e. $696
Answers: 3
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