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On July 1, 2022, Sheridan Co.pays $13,144 to Wildhorse Co. for a 2-Year insurance contract. Both companies have fiscal years ending December 31. Your answer
On July 1, 2022, Sheridan Co.pays $13,144 to Wildhorse Co. for a 2-Year insurance contract. Both companies have fiscal years ending December 31. Your answer is partsally correct. Journalize the entry on July 1 and the annual adjusting entry on December 31 for Wildhorse Co. Wildhorse uses the accounts Uneamed Service Revenue and Service Revenue. (Record journal entries in the order presented in the problem. Credit account ttles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the he account titles and enter for the amounts Date Account Titles and Explanation Debit Credit 13116 13 Dec Post the entry on July 1 and the annual adjusting entry on December 31 for Wildhorse Co. (Post entries in the order of journal entries presented in the previous part.) Uneamed Service Revenue 12/31 7/1 Service Revenue 12/31 V
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