On July $1,2027,$ Blue Co$.$ pays $$15,120$ to Crane Insurance Co$.$ for a $2-$year insurance contract. Both companies have fiscal years ending December $31.$ For Blue Co$.,$ enter the July $1$ transaction and the December $31$ adjustment in the tabular summary that follows.

$$ Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses.

$$ Increases in expenses require a negative sign or parentheses.

$$ Increases in Accumulated Depreciation require a negative sign or parentheses.

Assets

$=$

Liabilities

$+$

Stockholders$$ Equity

Cash

$-$

Prepd. Ins.

$=$

Com. Stock

$+$

Rev.

$-$

Exp. $($Ins$.)$

$-$

Div.

Jul. $1$

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

Dec. $31$

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

Adj. Bal.

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

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