Jefferson, CPAs provides accounting services for a client at a flat contract rate of $10,000 a month. The terms of the contract include a required payment on the 15th day of each month for the prior month's accounting services. Assuming Jefferson, CPAs post journal entries each month end, what is (are) the journal entry (entries) posted on December 31? OA. Cash 10,000 Accounts Receivable 10,000 O B. Cash 10,000 Service Revenue 10,000 C. Acounts Receivable 5,000 Cash 10,000 Service Revenue 15,000 O D. Cash 10,000 Accounts Receivable 10,000 Acounts Receivable 10,000 Service Revenue 10,000

Review the following transactions and prepare any necessary journal entries for Woodworking Magazine. Woodworking Magazine provides one issue per month to subscribers for a service fee of $240 per year. Assume January 1 is the first day of operations for this company, and no new customers join during the year. A. On January 1, Woodworking Magazine receives advance cash payment from forty customers for magazine subscription services. Handyman had yet to provide subscription services as of January 1. B. On April 30, Woodworking recognizes subscription revenues earned. C. On October 31, Woodworking recognizes subscription revenues earned. D. On December 31, Woodworking recognizes subscription revenues earned.

Schrand Services offers janitorial services on both a contract basis and an hourly basis. On January I, Schrand collected $26, I00 cash in advance on a six-month contract for work to be performed evenly during the next six months. Prepare the entry on January I to reflect the receipt of $26,100 cash for contract work; use the financial statement effects template. Adjust the appropriate accounts on January 31 for the contract work done during January; use the financial statement effects template . At January 31, a total of 30 hours of hourly rate janitor work was performed but unb illed. The billing rate is $ 19 per hour. Prepare the accounting adjustment needed on January 31, using the financial statement effects template. (The firm uses the account Fees Receivable to reflect the revenue earned but not yet billed.) Refer to above information to prepare Journal entry for each part 1, 2 and 3.

Specialty Manufacturing estimated that its total payroll for the coming year would be $482,500. The workers' compensation insurance premium rate is 0.2%. Required: 1.  Calculate the estimated workers' compensation insurance premium.$ Prepare the journal entry for the payment as of January 2, 20--. If an amount box does not require an entry, leave it blank. Page:     DATE ACCOUNT TITLE DOC.NO. POST.REF. DEBIT CREDIT   1 20-- Jan. 2           1 2             2 3             3 2.  Assume that Specialty Manufacturing's actual payroll for the year is $487,000. Calculate the total insurance premium owed.$ Prepare a journal entry as of December 31, 20--, to record the adjustment for the underpayment. The actual payment of the additional premium will take place in January of the next year. If an amount box does not require an entry, leave it blank. Page:     DATE ACCOUNT TITLE DOC.NO. POST.REF. DEBIT CREDIT   1 20-- Dec. 31           1 2…