Argyle Designs Has a Contract to Design 20 New Dresses

True/False

Argyle Designs has a contract to design 20 new dresses for a customer, and will collect a total of $40 000 when the design services are complete. They start on 1 June. As of 30 June, Argyle has finished 4 of the 20 designs. They will make an adjusting entry at the end of June to accrue $10 000 of service revenue.