July 3: On behalf of PS Music, Feyton signed a contract with a local radio station, KXMD, to provide guest spots for the next three months. The contract requires PS Music to provide a guest disc Jockey for 80 hours per month for a monthly fee of $8. 600. Any additional hours beyond 80 will be billed to KXMD at $40 per hour. In accordance with the contract, Peyton received $7,200 from KXMD as an advance payment for the first two months. Account Post. Ref Debit Credit Cash Unearned Revenue