Evans Ltd. publishes a monthly newsletter for retail marketing managers and requires its subscribers to pay $46 in advance for a one-year subscription. During the month of August 2016, Evans Ltd. sold 310 one-year subscriptions and received payments in advance from all new subscribers. Only 84 of the new subscribers paid their fees in time to receive the August newsletter; the other subscriptions began with the September newsletter.
Required:
Use the horizontal model to record the effects of subscription fees received in advance during August 2016. (Use amounts with + for increases and amounts with - for decreases.)