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• On October 01, 2016, ABC signed a $18520 consulting contract with XYZ • The contract requires ABC to provide computer techn

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Answer #1
a Debit on Oct 1,2016 - Cash A/c
b Credit on Oct 1,2016 - Unearned Service Revenue
c Amount on Oct 1,2016 - $18,520
d Debit on Dec 31,2016 - Unearned Service Revenue
e Credit on Dec 31,2016 - Service Revenue
f Amount on Dec 31,2016 - $2,778($18,520*3/20)
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