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Summer Fun, Inc. offers various services to their hotel and residential customers. Hotel customers pay on a monthly contract basis, while residential customers pay an
Summer Fun, Inc. offers various services to their hotel and residential customers. Hotel customers
pay on a monthly contract basis, while residential customers pay an hourly rate based on services
provided.
In July Summer Fun, Inc. signed a month contract with Resorts Unlimited to provide pool and
spa cleaning services for its hotel sites. The contract price of $ was collected on July
The services will be provided evenly over the months July through October
During July Summer Fun, Inc. also provided hours of residential pool services at $ per
hour. Payment is expected in August.
a
Prepare the entry on July to record the receipt of $ cash related
to the contract with Resorts Unlimited.
b
Prepare the adjusting entry to be made on July for the contract work
performed for Resorts Unlimited during the month.
Prepare the adjusting entry needed on July to reflect the residential
C
pool services performed during the month.
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