On July 1, 2022, Cullumber Company pays $ 17,000 to Crane Company for a 2-year insurance contract. Both companies have fiscal years ending December 31. Your answer is correct. Journalize the entry on July 1 and the adjusting entry on December 31 for Crane Company. Crane uses the accounts Unearned Service Revenue and Service Revenue. (Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 1 Cash 17,000 Unearned Service Revenue 17,000 Dec. 31 Unearned Service Revenue 4250 Service Revenue 4250 Your answer is partially correct. Post the entry on July 1 and the adjusting entry on December 31 for Crane Company. (Post entries in the order of journal entries presented in the previous part.) Unearned Service Revenue 12/31 4250 7/1 17,000 > 12/31 Bal. 12,750 Service Revenue 12/31 4250