the Consider the following ustion A) B (Click the loan to view the stone Ansure the company records adjusting entries menthly, Jerman bumalies the adjusting entries needed as of January 31, (facand debits first, then credits. Select the explanation on the lat line of the journe entry table) are pi Expla .. Aminus receive $3.600 on January 1 for 10-month service contract for the period Jersey 1 through October 31. (When the cash was received on January 1. naume that a habity account ww contr credited. Assume services are performed overly each month throughout the warm of the contract) Answ Date Account and Explanation Debit Credit Jan 31 More arvu em ate elp ervid Fenl Help Me Solve This eText Pages Clear All sw Get More Help Cock Anwa Check Answer -X More Info he expla pary 1, as a. Business receives $3,600 on January 1 for 10-month service contract for the period January 1 through October 31. (Assume services are performed evenly each month throughout the term of the contract.) b. Total salaries for all employees is $3,000 per month. Employees are paid on the 1st and 15th of the month. C. Work performed but not yet billed to customers for the month is $1,600. d. The company pays interest on its $5,000, 6% note payable of $25 on the first day of each month Print Done ges Get More Help Clear All