Required information Problem 7-28 (Algo) Unearned revenues-subscription fees LO 7-3 [The following information applies to the questions displayed below.] Evans Limited publishes a monthly newsletter for retail marketing managers and requires its subscribers to pay $35 in advance for a one-year subscription. During the month of August 2022, Evans Limited sold 320 one-year subscriptions and received payments in advance from all new subscribers. Only 55 of the new subscribers paid their fees in time to receive the August newsletter; the other subscriptions began with the September newsletter. Table 6-4, Table 6-5 Note: Use appropriate factor from the table provided. Problem 7-28 (Algo) Part a Horizontal model Required: a. 1. Use the horizontal model to record the effects of subscription fees received in advance during August 2022. Indicate the financial statement effect. 2. Use the horizontal model to record the effects of subscription revenue earned during August 2022. Indicate the financial statement effect.