Question: On May 1 , 2 0 2 4 , Varga Tech Services signed a $ 6 , 0 0 0 consulting contract with Shaffer Holdings.

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.

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