journalize the entires

On July 1, 2022, Wildhorse Co, pays $20,600 to Ayayai Insurance Co. for a 4-year insurance contract. Both companies have fiscal years ending December 31 For Wildhorse Co. journalize and post the entry on July 1 and the annual adjusting entry on December 31 . (List all debit entries before credit entries. Credit occount titles are automotically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)