On July 1, 2022, Sunland Company pays $14,136 to Ivanhoe Company for a 2-year insurance contract. Both companies have fiscal years ending December 31. (a1) For Sunland Company, journalize the entry on July 1 and the annual adjusting entry on December 31. (Record journal entries in the order presented in the problem. Credit account titles are automatically Indented when the amount is entered. Do not Indent manually) Date Account Titles and Explanation July 1 Dec. 31 v Debit Credit