On July 1, 2022, Major Co, pays $15,120 to Mesa Insurance Co. for a 4 -year insurance contract Both companes nave nscin yedrs ending December 31. For Major Co.. journaiize and post the entry on July 1 and the annual adjusting entry on December 31 . (Uist all debit entries before credit entries. Credit account tities are outomaticolly indented when the amount is entered. Do not indent manually. Record journal entries in the ouder presented in the problem.) Prepaid Insurance Insurance Expense 12/31Bal 1890 1890