DEFERRED REVENUE ADJUSTING ENTRIES

Olney Cleaning Company had the following items that require adjustment at year-end.
a. For one cleaning contract, $14,000 cash was received in advance. The cash was credited to unearned revenue upon receipt. At year-end, $3,750 of the service revenue was still unearned.
b. For another cleaning contract, $9,500 cash was received in advance and credited to unearned revenue upon receipt. At year-end, $4,300 of the services had been provided.