How would I solve these?

On July 1, 2017, Major Co. pays $28,800 to Cruz Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31. For Major Co.,journalize and post the entry on July 1 and the annual adjusting entry on December 31. (Credit account titles are aut entered. Do not indent manually. Record journal entries in the order presented in the problem.) account titles are automatically indented when the amount is Date Account Titles and Explanation Debit Credit uly 1Prepaid Insurance 28000 Cash 28000 Dec. 31 Insurance Expense Prepaid Insurance Prepaid Insurance 12/31 Bal. Insurance Expense