On April 30, Culture Magazine Corp received $1,500 cash in advance from various customers for 12 months of services starting May 1. Culture Magazine Corp has a December 31 year end and adjusted its accounts annually. REQUIRED: a. Calculate the amount of service revenue earned at December 31 b. Prepare the adjusting journal entry required at December 31 Paragraph BIU a. The amount of service revenue earned = $ b. The adjusting journal entry GENERAL JOURNAL ACCOUNT TITLES AND DATE EXPLANATION DEBIT CREDIT