On July 1, 2025, Blossom Co. pays $22,920 to Marigold Insurance Co. for a 1-year insurance contract. Both companies have fiscal years ending December 31. (a1) Your answer is partially correct. Journalize the entry on July 1 and the adjusting entry on December 31 for Marigold Insurance Co. Marigold uses the accounts Unearned Service Revenue and Service Revenue. (List all debit entries before credit entries. 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 automatically indented when the amount is entered. Do not indent manually.) Date July 1 Dec. 31 Account Titles and Explanation Unearned Service Revenue Debit 22,920 Credit 22,92

On July 1, 2025, Blossom Co, pays \$22,920 to Marigold Insurance Co, for a 1-year insurance contract. Both companies have fiscal years ending December 31 (a1) 6. Your answer is partially correct. Journalize the entry on July 1 and the adjusting entry on December 31 for Marigold Insurance Co. Marigold uses the accounts Unearned Service Revenue and Service Revenue. ILlst oll debit entries before credit entries. Record journal entries in the order presented in the problem. If no entry Is required, select "No Entry' for the account titles and enter Ofor the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually)