On May $1,2024,$ Varga Tech Services signed a $$6,000$ consulting contract with Shaffer Holdings. The contract requires Varga to

provide computer technology support services whenever requested over the period from May $1,2024,$ to April $30,2025,$ with Shaffer

paying the entire $$6,000$ on May $1,2024.$

Record the journal entries for Varga on May $1$ and December $31,2024.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

Record the journal entries for Varga on May $1$ and December $31,2024.$

Journal Entry $1$: Record the cash received by Varga Tech Services.

Journal Entry $2$: Record the revenue recognized by Varga Tech Services for the year ended December $31,2024.$