Question: c. Sentry operates several buses that provide transportation for the clients of a social service agency in Atlanta. Sentry bills the agency quarterly at the

of a social service agency in Atlanta. Sentry bills the agency quarterly

c. Sentry operates several buses that provide transportation for the clients of a social service agency in Atlanta. Sentry bills the agency quarterly at the end of January, April, July, and October for the service performed that quarter. The contract price is $7,200 per quarter. Sentry follows the practice of recognizing revenue from this contract in the period in which the service is performed. GENERAL JOURNAL . REF. DEBIT ASSETS 3,080.00 3,080.00 Adjusting Entries Dec. 31' Unearned Service Revenue Service Revenue . Dec. 31' Unearned Service Revenue Service Revenue Dec. 31' Accounts Receivable Service Revenue 125,160.00 125,160.00 28,800.00 28,800.00

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