On July 1, 2022, Ling Co. pays $12,400 to Marsh Insurance Co.for a 2-year insurance contract. Both companies have fiscal years ending December 31. For Ling Co., 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.) Assets = Liabilities + Cash Prepd. Ins. Com. Stock Jul. 1 Dec. 31 Adj. Bal