Following is a February transaction for a company. Calculate the amount of revenue to recognize in February. In February the company received $45,000 cash from customers for services: $40,000 was provided this month and $5,000 is to be provided next month 7. Accrual basis revenue: $ 8. Cash basis revenue: $ Chapter 3 Page 3-1 Use the following to answer questions 9-10 On October 11, the company received a $15,000 payment from a customer for services to be rendered evenly over the next eight months. Deferred Revenue was credited on October 1" and no other entries regarding this transaction were made until December 31st. 9. S After the adjusting entry has been recorded on December 31", determine the ending balance in the deferred revenue account that should be recorded on the December 31" Balance Sheet. After the adjusting entry has been recorded on December 31", determine the amount of service revenue that should be recognized for this customer on the annual income statement on December 31st. 10. S