E3-01A.Stat eBook Question 1 Not complete Marked out of 18.00 P Flag question Transaction Analysis and Adjustments Deluxe Building Services offers janitorial services on both a contract basis and an hourly basis. On January 1, Deluxe collected $20,100 in advance on a six-month contract for work to be performed evenly during the next six months. Using the Transactions Analysis Template, determine the financial statement effect of the following a. the January 1st receipt of $20,100 for contract work b. the adjustment to be made on January 31, for the contract work done during January C.At January 31, a total of 30 hours of hourly rate janitor work was unbilled. The billing rate is $19 per hour. Provide the accrual needed on January 31 (Note: The firm uses the account Fees Receivable to reflect amounts due.) Note: Use negative signs with answers, when appropriate Balance Sheet Income Statement Stockholders Transaction - Liabilities Equity Revenues. Expenses - Net Income a. Jan. 1 receipt for contract work b. Jan. 31 adjustment for contract work I c. Jan. 31 adjustment for unbilled janitor work Assets Check Next Save Answers User Guide Browser