Question: On 1 / 1 / 2 0 2 4 , ABC schools signed a contract to purchase software for 5 0 0 students at $

On 1/1/2024, ABC schools signed a contract to purchase software for 500 students at $4/student. The subscription runs from 2/1/2024 to 12/31/2024. They want to be invoiced half on 1/1/2024 and the balance on 7/1/2024. Payment of each invoice was received in full on 2/1 and 8/15. Ledger accounts are provided on the right.

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