BE4-7 On July 1, 2017, Ling Co. pays $12,400 to Marsh Insurance Co. for a 2-year nsurance contract. Both companies have fiscal years ending December 31 For Marsh Insurance Co., enter the July 1 transaction and the December 31 adjustment in the tabular summary that follows. Assets Liabilities+ Stockholders' Equity Cash -LinearnedServRev.-Com. Stock Rer-Ese.-Dir Jul. 1 Dec. 31 Bal