Assume the company records adjusting entries monthly. Journalize the adjusting entries needed as of 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Question content area bottom Part 1 a. Business receives on 1 for 10-month service contract for the period 1 through 31. (When the cash was received on January 1, assume that a liability account was credited. Assume services are performed evenly each month