Financial Chapter 3 HWw Show Me How Sentry Transport Inc. of Atlanta provides in-sown parcel delivery services in addition to a fulli range of passenger services. Sentry engeged in the follewing actiwitles Guring the current eari Required: Prepare adjusting entries at December 31 for these four activities. Df mo entry is required, select "No entry required for all accounts and leeve associated amount boes blan. a. Sentry received $5,000 cash in advance from Rich's Department Store for an estimated 250 deliveries during December 2019 and Jenuary and February of 2020. The entire amount was recorded as uneernes reverue when recelved. During December 2019, 110 deliveries were made for Rh's Dec. 31 Unearned Service Revene Service Revene Record earned revenue costs $500. At the ime of purchase, Sentry credits the cash received to unearned revenue. Mt year end, Sentry determines that 10,160 one way rides have been taken. Dec. 31 Service Revenue (Record earned nevenue c. Sentry operates several buses that provide transportation for the clients of a social service agency in Atlanta. Sentry bils the agency quarterly at the end of January, Aprit, July, and October for the service performed that quarter. The contract price is $7,500 per quarter. Sentry folows the practice of recognizing revenue from this contract in the period in which the service is performed Dec. 31 Accounts Receivable Service Revenue