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On July 1, 2022, Ivanhoe Co. pays $ 13,800 to Tamarisk Insurance Co.for a 4-year insurance contract. Both companies have fiscal years ending December 31.

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On July 1, 2022, Ivanhoe Co. pays $ 13,800 to Tamarisk Insurance Co.for a 4-year insurance contract. Both companies have fiscal years ending December 31. For Ivanhoe Co., journalize and post the entry on July 1 and the annual adjusting entry on December 31. (List all debit entries before credit entries. 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 Prepaid Insurance Insurance Expense The bookkeeper for Blossom Company asks you to prepare the following accrual adjusting entries at December 31. 1. Interest on notes payable of $510 should be accrued. 2. Services performed but unbilled totals $2,020. Salaries of $520 earned by employees have not been recorded or paid. 3. Use these account titles: Service Revenue. Accounts Receivable. Interest Expense. Interest Payable, Salaries and Wages Expense, and Salaries and Wages Payable. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 1. Dec. 31 2. Dec. 31 3. Dec 31

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