Consider the folowing situations: (Click the icon to view the situations:) Assume the company records adjusting entries monthly. Journalize the adjusting entries neodod as of January 31 . (Rocord dobits first, then credits. Select the explanation on the last line of the journal entry table.) 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 assume that a liability account was crodited. Assume services aro performed evenly each month throughout the term of the contract) More info a. Business receives $2,200 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 $2,000 per month. Employees are paid on the 1 st and 15 th of the month. c. Work performed but not yet billed to customers for the month is $1,600. d. The company pays interest on its $14,000,5% note payable of $58 on the first day of each month