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Save Homework: Chapter 3 part B homework Score: 0 of 1 pt 1 of 8 (0 complete) E3-21 (similar to) HW Score: 0%, 0 of 9 pts Question Help Consider the following situations: i (Click the icon to view the situations.) Assume the company records adjusting entries monthly. Journalize the adjusting entries needed as of January 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. Business receives $2.800 on January 1 for 10-month service contract for the period January 1 through October 31. (When the cash was received on January 1, assume that a liability account was credited. Assume services are performed evenly each month throughout the term of the contract.) Date Accounts and Explanation Debit Credit Jan. 31 Choose from any list or enter any number in the input fields and then click Check Answer. Check Answer 3 parts Clear All 3 remaining

Answer 1

sno	date	accounts	debit	credit
a	Jan 31	Unearned serivice revenue a/c	280
		............To service revenue a/c		280
		(monthly revenue will be =$2800/10=>$280)
b	Jan 31	salaries and wages expense a/c	1,750
	.	.............To salaries and wages payable a/c		1,750
		(amount = $3500 per month / 2 payments per month =>$1,750)
c.	jan 31	Accounts receivable a/c	2,000
		.............To service revenue a/c		2,000
d.	jan 31	interest expense	70
		........To interest payable a/c		70