Assignment $2-$ Chapter $3$

Question $3$ of $5$

$\frac{-}{5}$

View Policies

Current Attempt in Progress

On July $1,2020,$ Major Ltd$.$ Ltd$.$ pays $15,120$ to Orlow Insurance Ltd$.$ for a $3-$year insurance contract. Both companies have fiscal years ending December $31.$

For Major Ltd$.$ Ltd$.,$ journalize and post the entry on July $1$ and the annual adjusting entry on December $31.($Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.$)$