Chapter 4 Homework Question 5 of 10 Current Attempt in Progress Save for Later eTextbook and Media Cash Basis Accrual Basis MacBook Air Attempts: 0 of 3 used Submit Answer *** 7 3

On July 1, 2025, Sheridan Co. pors $15,000 to Blive Spruce insurance Ca for a 2-year insurance contract. Both companies have fiscal rearsending Deceonber 31 . a1) Journalize the entry on July 1 and the adjusting entry on December 31 for Blue Spruce Insurance Ca. Bave Sproce uaves the are automockaly hadented when the arsount is entered. De not indeat manuoly) 5. Snsurance expires at the rate of 3640 per month. the anount is entered Do not indent mancualys On July 1, 2025, Sheridan Co. pors $15,000 to Blive Spruce insurance Ca for a 2-year insurance contract. Both companies have fiscal rearsending Deceonber 31 . a1) Journalize the entry on July 1 and the adjusting entry on December 31 for Blue Spruce Insurance Ca. Bave Sproce uaves the are automockaly hadented when the arsount is entered. De not indeat manuoly) 5. Snsurance expires at the rate of 3640 per month. the anount is entered Do not indent mancualys