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On July 1, 2022, tvanhoe Company pays $15.500 to SandhillCo. for a 1-year insurance contract. Both companies have fiscal years ending December 31. Journalize the

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On July 1, 2022, tvanhoe Company pays $15.500 to SandhillCo. for a 1-year insurance contract. Both companies have fiscal years ending December 31. Journalize the entry on July 1 and the adjusting entry on December 31 for Sandhill Co. Sandhil 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 O for the amounts Credit account titles are automotically indented when the amount is entered. De not indent manually) Post the entry on July 1 and the adjusting entry on December 31 for Sandhill Co. (Post entries in the order of journal entries presented in the previous part.) Unearned Service Revenue Service Revenue

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