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Journal Entries of January 10. explain how to record this transactions. Provide the related Adjusting entry for January 31. January 10: A customer named Monika

image text in transcribedJournal Entries of January 10. explain how to record this transactions.
image text in transcribed
Provide the related Adjusting entry for January 31.
January 10: A customer named Monika paid $500 in advance for ten personalized shirts at $50 each. Tony accepted the money and told Monika that her shirts would be ready in a few weeks. UP/DOWN ACCOUNT NAME AMOUNT Five personalized shirts ordered by Monika were delivered on January 31. The cost of these shirts wer $40 each UP/DOWN ACCOUNT NAME AMOUNT

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