On July 1, 2017, Blossom Co. pays $14,820 to Blue Insurance Co. for a 3-year insurance policy. Both companies have fiscal years ending December 31. For Blossom Co., journalize the entry on July 1 and the adjusting entry on December 31.

Brief Exercise 3-3 On July 1, 2017, Blossom Co. pays $14,820 to Blue Insurance Co. for a 3-year insurance policy. Both companies have fiscal years ending December 31. For Blossom Co., journalize the entry on July 1 and the adjusting entry on December 31. (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 o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT