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Help please On July 1, 2014, Seng Co. pays $17,600 to Nance Insurance Co, for a 2-year insurance contract. Both company have fiscal years ending

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On July 1, 2014, Seng Co. pays $17,600 to Nance Insurance Co, for a 2-year insurance contract. Both company have fiscal years ending December 31. Journalize the entry on July 1 and the adjusting entry on December 31 for Nance Insurance Co. Nance uses the accounts Unearned Service Revenue and Service Revenue. (Credit account titles are automatically indented when the amount it entered. Do not indent .) Post the entry on July 1 and the adjusting entry on December 31 for Nance Insurance Co

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