a. Business receives $4,000 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. Assuma services are performed evenly each month throughout the term of the contract.) More info a. Business receives $4,000 on January 1 for 10 -month service contract for the period January 1 through October 31. (Assume services are performed evenly each month throughout the term of the contract.) b. Total salaries for all employees is $3,500 per month. Employees are paid on the 1 st and 15th of the month. c. Work performed but not yet billed to customers for the month is $700. d. The company pays interest on its $20,000,5% note payable of $83 on the first day of each month