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On July 1, 2022, Oriole Company pays $15,200 to Carla Vista Co. for a 4-year insurance contract. Both companies have fiscal years ending December 31.

On July 1, 2022, Oriole Company pays $15,200 to Carla Vista Co. for a 4-year insurance contract. Both companies have fiscal years ending December 31. New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is partially correct. Journalize the entry on July 1 and the adjusting entry on December 31 for Carla Vista Co.. Carla Vista uses the accounts Unearned Service Revenue and Service Revenue. (Record journal entries in the order presented

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