Transaction Analysis and Adjustments Deluxe Building Services offers janitorial services on both a contract basis and an hourly basis. On January 1, Deluxe collected $20,100 in advance on a six-month contract for work to be performed evenly during the next six months. Using the Transac- tion Analysis Template, determine the financial statement effect of the following:

a. The January 1 receipt of $20,100 for contract work

b. The adjustment to be made on January 31, for the contract work done during January

c. At January 31, a total of 30 hours of hourly rate janitor work was unbilled. The billing rate is $19 per hour. Provide the accrual needed