On July 1, 2022, Blossom Co pays $11.160 to Cullumber Co. for a 2-year insurance contract. Both companies have fiscal years ending December 31 Your answer is partially correct. Joumalize the entry on July 1 and the annual adjusting entry on December 31 for Cullumber Co. Cullumber uses the accounts Unearned Service Revenue and Service Revenue. (Record journal entries in the order presented in the problem. 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 for the amounts.) Account Titles and Explanation Debit Credit July 1 Prepaid Insurance Date 11160 Canh 11,16 Dec 31 v Insurance Expense 1860 Prepold Insurance 188 Your answer is incorrect Post the entry on July 1 and the annual adjusting entry on December 31 for Cullumber Co. (Post entries in the order of journal entries presented in the previous part) Unearned Service Revenue 11.160 12/31 12/31 12/31 Bol 9300 Service Revenue 12/31 1860