Brief Exercise 3-05 On July 1, 2019, Sanchal Co. pays $21.500 to Whispering Insurance Co. for a 4-year insurance contract. Both companies have fiscal years ending December 31 For Sandhill Cojomize and post the entry on July 1 and the 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. Round answers to decimal places, eg. 5,275.) Account Titles and Explanation Debit Date Prepaid Insurance Insurance Expense SHOW LEST OF ACCOUNTS Question Attempts of 1 used SUBMIT