On July 1, 2022. Pharoah Company pays $15,000 to Blossom Company for a 2-year insurance contract. Both companies have fiscal years ending December 31 (21) Your Answer Correct Answer Your answer is correct. Journalize the entry on July 1 and the adjusting entry on December 31 for Blossom Company, Blossom 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 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 15000 15000 Dec. 31 Unearned Service Revenue Unearned Service Revenue Service Revenue 3750 3750 Post the entry on July 1 and the adjusting entry on December 31 for Blossom Company. (Post entries in the order of journal entries presented in the previous part.) Unearned Service Revenue 3750 711 12/31 15000 12/31 Bal. 3750 Service Revenue 3750 12/31 Bal. 12/31 3750