On July $1,2025,$ Grouper Co$.$ pays $\backslash (\backslash$$ $21,840\backslash )$ to Sandhill Insurance Co$.$ for a $2-$year insurance contract. Both companies have fiscal years ending December $31.($a$1)$ For Grouper Co$..$ journalize the entry on July $1$ and the annual adjusting entry on December $31.($List oll debit entries before credit entries. Record journal entries in the order presented in the problem. If no entry is required, select $"$No Entry" for the account titles and enter Ofor the amounts. Credit account titles are outomatically indented when the amount is entered. Do not indent manually$)$