Schrand Services offers janitorial services on both a contract basis and an hourly basis. On January 1, Schrand collected $ 26,100 cash in advance on a six-month contract for work to be performed evenly during the next six months.

a. Prepare the entry on January 1 to reflect the receipt of \(\$ 26,100\) cash for contract work; use the financial statement effects template.

b. Adjust the appropriate accounts on January 31 for the contract work done during January; use the financial statement effects template.

c. At January 31, a total of 30 hours of hourly rate janitor work was performed but unbilled. The billing rate is \(\$ 19\) per hour. Prepare the accounting adjustment needed on January 31 , using the financial statement effects template. (The firm uses the account Fees Receivable to reflect revenue earned but not yet billed.)