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Use the following to answer questions 910 On October 1st,, the company received a $40,000 payment from a customer for services to be rendered evenly

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Use the following to answer questions 910 On October 1st,, the company received a $40,000 payment from a customer for services to be rendered evenly over the next four months. Deferred Revenue was credited on October 1 th and no other entries regarding this transaction were made unti December 31 st. 9. After the adjusting entry has been recorded on December 31 " , determine the ending balance in the deferred revenue account that should be recorded on the December 31 salance Sheet. 10. After the adjusting entry has been recorded on December 31 , , determine the amount of service revenue that should be recognized for this customer on the annual income statement on December 31 st

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