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3-16 Prepare adjusting entry for unearned revenue. BE3.6 (LO2), AP On July 1, 2022, Major Co, pays $15,120 to Mesa Insurance Co. for a 4-year

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3-16 Prepare adjusting entry for unearned revenue. BE3.6 (LO2), AP On July 1, 2022, Major Co, pays $15,120 to Mesa Insurance Co. for a 4-year insurance contract. Both companies have fiscal years ending December 31. Journalize and post the entry on July 1 and the annual adjusting entry on December 31 for Mesa Insurance Co. Mesa uses the accounts Unearned Service Revenue and Service Revenue. Prepare adjusting entries for accruals. hallinen malindinsting entries at

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