Schrand Services offers janitorial services on both a contract basis and an hourly basis. On January 1, Schrand collected $31,320 cash in advance on a sixmonth contract for work to be performed evenly during the next six months. a. Prepare the entry on January 1 to reflect the receipt of $31,320 cash for contract work; use the financial statement effects template. b. Adjust the appropriate accounts on January 31 for the contract work done during January; use the financial statement effects template. (3. At January 31, a total of 36 hours of hourly rate janitor work was performed but unbilled. The billing rate is $19 per hour. Prepare the accounting adjustment needed on January 31 using the financial statement effects template. [The firm uses the accounts receivable account to reflect revenue earned but not yet billed.) Prepare a journal entry for each of parts a, b, and c