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SERVICE REVENUE CONTRACT - 22 POINTS On April 1, 2020 Top Notch Service, Inc enters into a 2 year contract with Demanding Customer, Inc whereby

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SERVICE REVENUE CONTRACT - 22 POINTS On April 1, 2020 Top Notch Service, Inc enters into a 2 year contract with Demanding Customer, Inc whereby Top Notch will provide services to Demanding Customer at a rate of $20,000 per month. The contract term is from April 1, 2020 through March 31, 2022. On April 1, 2020 Demanding Customer gives Top Notch $140,000 towards the contract. Assume no other payments are made and the monthly services are being performed as agreed upon. Using the T-accounts below, determine the amounts of Top Notch for: Total Revenue over the 2 year contract Revenue for the year ended 12/31/20 Accounts receivable as of 12/31/20 Unearned Revenue as of 12/31/20 CASH UNEARNED REVENUE REVENUE ACCOUNTS RECEIVABLE

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