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On July $1,2022,$ Major Co$.$ pays $$15,120$ to Mesa Insurance Co$.$ for a $4-$year insurance contract. Both companies have fiscal years ending December $31.$

Journalize and post the entry on July $1$ and the annual adjusting entry on December $31$ for Mesa Insurance Co$.$ Mesa uses the accounts Unearned Service Revenue and Service Revenue. $($List all debit entries before credit entries. 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.$)$

Unearned Service Revenue

Unearned Service Revenue

Service Revenue

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