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Record journal entries for both of the following transactions (a) On December 1, $18,000 was received for a service contract to be performed from December

Record journal entries for both of the following transactions

(a) On December 1, $18,000 was received for a service contract to be performed from December 1 through April 30.

(b) Assume the work is performed evenly throughout the contract period; prepare the adjusting journal entry on December 31

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