On July 1, 2022, Cullumber Co. pays $12,720 to Pina Colada Corp. for a 2-year insurance contract. Both companies have fiscal years ending December 31. For Pina Colada Corp., enter the July 1 transaction and the December 31 adjustment in the tabular summary that follows. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Jul. 1 Dec. 31 Adj. Bal. Assets Cash I Liabilities Unearned Serv. Rev. + + Com. Stock Serv. Rev. Stc

On July 1,2022 , Cullumber Co. pays $12,720 to Pina Colada Corp. for a 2-year insurance contract. Both companies have fiscal years ending December 31. For Pina Colada Corp., enter the July 1 transaction and the December 31 adjustment in the tabular summary that follows. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Llability or Equity item that was reduced.)