a. Business receives $2,200 on January 1 for 10-month service contract for the period January 1 through October 31. (When the cash was received on January 1, assume that a liability account was credited. Assume services are performed evenly each month throughout the term of the contract.) Date Accounts and Explanation Jan. 31 Cash Service Revenue Debit 2200 Credit

a. Business receives $2,200 on January 1 for 10 -month service contract for the period January 1 through October 31 When the cash was received on January 1, assume that a liability account was credited. Assume services are performed evenly each month throughout the term of the contract.)