Requirement: Make the journal entries for both of the following:
(a) On December 1, $18,000 was received for a service contract to be performed from December 1 through until April 30.
(b) If the service work for this contract is performed evenly and on a regular basis throughout this period, prepare the adjusting journal entry as of year-end, December 31.

Question

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The Answer of Requirement: Make the journal entries for both of the following:
(a) On December 1, $18,000 was received for a service contract to be performed from December 1 through until April 30.
(b) If the service work for this contract is performed evenly and on a regular basis throughout this period, prepare the adjusting journal entry as of year-end, December 31.

Requirement: Make the Journal Entries for Both of the Following