Chameleon, Ltd. provides music lessons to customers. On January 31^st, 2020 the firm received a total of $36,000 in cash from a customer for services that will be provided evenly over the next six months (i.e. the firm will provide $6,000 worth of services in February, March, April, May, June, and July). Assume that the firm has a monthly accounting period and adjusting entries are made at the end of each month. What is the adjusting entry that the firm should make on February 28^th, 2020?

Group of answer choices

Debit: Cash $36,000; Credit: Deferred Revenue $36,000

Debit: Service Revenue $36,000; Credit: Deferred Revenue $36,000

Debit: Deferred Revenue $6,000; Credit: Service Revenue $6,000

Debit: Deferred Revenue $36,000; Credit: Service Revenue $36,000

Debit: Service Revenue $6,000; Credit: Deferred Revenue $6,000