Bantley, Inc., collects cash from customers two ways:
a. Accrued revenue. Some customers pay Bantley after Bantley has performed service for the customer. During 2012, Bantley made sales of $55,000 on account and later received cash of $35,000 on account from these customers.
b. Unearned revenue. A few customers pay Bantley in advance, and Bantley later performs the service for the customer. During 2012, Bantley collected $9,000 cash in advance and later earned $7,000 of this amount.
Journalize the following for Bantley:
a. Earning service revenue of $55,000 on account and then collecting $35,000 on account
b. Receiving $9,000 in advance and then earning $7,000 as service revenue