Problem 1 1.We received this invoice on 1/1/2023. We are closing our December 2022 books; the month of December is still 'open'. 2. This vendor bills us for their services in a complex fashion, with invoices including charges for both future periods of service as well as 'truing up' past periods of service. Invoice Date 1/1/2023 Due Date 1/31/2023 Item Service Period Amount Service 1 2/1/2023 - 2/28/2023 $81,000.00 Service 2 12/1/2022 - 2/28/2023 $158,000.00 Total $239,000.00 Please draw journal entries or describle solutions for the following question: 1. How should you record this invoice? I.e., what are the journal entries to be made upon receipt, and upon payment on 1/31? 2. What are the subseqent journal entries after the payment date of 1/31, if any?

Also, it is under US. GAAP standard.