On July $1,2025,$ Sheridan Co$.$ pays $$9,408$ to Skysong Insurance Co$.$ for a $2-$year insurance policy. Both companies have fiscal years

ending December $31.$ Journalize the entry on July $1$ and the adjusting entry on December $31$ for Skysong Insurance Co$.$ Skysong uses

the accounts Unearned Service Revenue and Service Revenue. $($Credit account titles are automatically indented when amount is entered.

Do not indent manually. If no entry is required, select $"$No entry" for the account titles and enter Ofor the amounts. Record journal entries in the

order presented in the problem. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit

Unearned Service Revenue

Service Revenue