Subscriptions Ovine and Bavine publiahes a menthly magasine for which a 12-month subacription coats $30. Al subecriptions require aymant of the full $30 in advance. On August 1. the balance in the Subsriptions Recived in Advance account was $40.500. During the manth of August the company sold 990 yearly subacriptions. After the adjuatment at the and of August, the balance in the Subscriptions Received in Advance account is $60.000 Required 1. identily and analyee the transaion to record the sale of the 990 yealy ubsiptions during the month of August. Activity Accounts Statement(s) How does this entry allect the acounting equabion f a finandial statement item is not affected select "No Entry" and leave the amount boxx blank If the effet on a financial statement tem is negative. La decrease be sure to enter the aner with a minus sign Balance Sheet Inceme Statement Stockholders Net Assets Liabiities Equity Revesues Expenses Iscome 2. Identify and analyze the adpustment on August 31 Activity Accounts Statemant(s) How doas this entry affect the accounting equation? of a finandial statement dem is not affected, select "No Entry" and leave the amount bex blank. If he ect on a financial statement tem is negative, 1 decrease. be sure to enter the anaer with a mius sign. Balance Shee Income Statement Steckhelders" Net Assets Liablties Equity Revesues Expenses Iscome