Brief Exercise 4-6 On July 1, 2014, Seng Co. pays $12,400 to Nance Insurance Co. for a 2-year insurance contract. Both companies have fiscal years ending December 31. Your answer is partially correct. Try again. For Seng Co., journalize the entry on July 1 and adjusting entry on December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 1 TCash 12400T Unearned Service Reve 12400 Dec. 31 TUnearned Service earned Service Reven 3100 Service Revenue 3100 SHOW LIST OF ACCOUNTS LINK TO TEXT