Brief Exercise 3-05 On July 1, 2019, Cullumber Co. pays $18,100 to Marigold Insurance Co. for a 4 year insurance contract. Both companies have fiscal years ending December 31. For Culumber Co. journalize and post the entry on July and the adjusting entry on December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record fournal entries in the order presented in the problem. Round answers to decimal places, eg. 5,275.) 2 Date Account Titles and Explanation Desit Crest July 1 Prepaid Insurance 15100 Cash 18100 Dec. 31 Insurance Expense Prepaid Rent Prepand 1010012 Insurance Expense 12/11 Click if you would like to Show Work for this question on how EDD000-2030