+ Ch. 3 Homework, F 20 Question 9 of 15 0.86 / 3 Show Attempt History Current Attempt in Progress On July 1, 2022, Blossom Company pays $11,160 to Cullumber Company for a 2-year insurance contract. Both companies have fiscal years ending December 31. Your answer is partially correct For Blossom Company, journalize the entry on July 1 and the annual adjusting entry on December 31. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 1 11,160 11.16 Dec. 31 eTextbook and Media