Brief Exercise 33 On July 1, 2017, Buftalo Co pays $15,420 to Caria Insurance Co. for a 3 year insurance policy. Both companies have fiscal years ending December 31. For Butalo Co., joumalize the entry on July 1 and the adjusting entry on December 31. (Creadilt account tities are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem Date Account Titles and Explanation Debit Credit July 1 Prepaid Insurance 15420 Dec. 31