On July 1, 2017, Major Co. pays $18,000 to Cruz Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31. Journalize and post the entry on July 1 and the adjusting entry on December 31 for Cruz Insurance Co. Cruz uses the accounts Unearned Service Revenue and Service Revenue. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit 2 July 1 Prepaid Insurance Prepa 18000 Cash 18000 1 Dec. 31 Insurance Expense Prepaid Insurance JT I 3000 Unearned Service Revenue 12/3 Service Revenue