On July 1, 2020, Splish Brothers Company pays $14,640 to its insurance company for a 2-year insurance policy. Prepare the necessary journal entries for Splish Brothers on July 1 and December 31. (List all debit entries before credit entries. Credit account titles are automatically indented when the 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.) Date: Account Titles and Explanation Debit Credit