service contract | Accounting homework help


On March 25, 2015, SEAF signed a service contract with Company A. Within the contract, it stated that SEAF shall provide investment advisory service to Company A from April 1, 2015 to April 30, 2015. The total service fee structured within the contract is $10,000. On the same day (March 25, 2015),SEAF received half of the service fee ($5,000) from Company A. On May 10, 2015, the remaining amount ($5,000) was received from Company A, as the full service has been provided by SEAF. What Journal Entries would be, if applicable, on the dates below: a. March 25, 2015 b. April 30, 2015 c. May 10, 2015