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7. Clean & Clear Water offers pool and spa cleaning services to hotels and residential customers. Commercial (hotels) customers pay on a monthly contract basis, while residential customers pay an hourly rate based on services provided. In July 2019, Clean & Clear Water signed a 6-month contract with Travel Holidays to provide pool and spa cleaning services for 3 hotel sites. The contract price of $48,000 was collected on July 1, 2019. The services will be provided evenly over the 6 months. During July 2019, Clean & Clear Water also provided 80 hours of residential pool services at $30 per hour. These services have not yet been billed to residential customers. The company uses the account, Fees Receivable, to reflect amounts due but not yet billed. a. Prepare the entry on July 1, 2019 to record the receipt of $48,000 cash related to the contract with Travel Holidays. b. Prepare the adjusting entry to be made on July 31, 2019 for the contract work performed for Travel Holidays during the month b. Prepare the adjusting entry to be made on July 31, 2019 for the contract work performed for Travel Holidays during the month c. Prepare the adjusting entry needed on July 31, 2019 to reflect the residential pool services performed during the month. On January 18, 2019, Big City Co, paid $36,000 for a two-year insurance premium that covers February 1, 2019 through January 31, 2021. Big City Co's year-end is March 31, 2019. a. What entry is made on January 18, 2019? b. What adjusting entry should be made on March 31, 2019 before the financial statements are prepared for the year ending March 31, 2019? 9. Selected accounts of Farm Company are shown below as of January 31 of the current year, before any adjusting entries have been made Farm Company's hecounting year begins on January 1. a. What entry is made on January 18, 2019? What adjusting entry should be made on March 31, 2019 before the financial statements prepared for the year ending March 31, 2019? 9. Selected accounts of Farm Company are shown below as of January 31 of the current year, bet any adjusting entries have been made. Farm Company's accounting year begins on January 1. Credit Debit $12,600 9,900 Prepaid rent Supplies Unearned service fees Wages expense $18,000 24,000 Use the following information to prepare the necessary January 31 adjusting entries: a Prepaid rent represents rent for January, February, March, and April. b. January 31 supplies on hand total $3,900 c. Last month the firm received $18,000 of service fees in advance. One-half of these fees we earned during January d. Accrued wages not recorded at January 31 are $2.850