On July 1, 2025, Blue Spruce Co. pays $15,000 to Sheridan Insurance Co. for a 2-year insurance contract. Both companies have fiscal years ending December 31. For Blue Spruce Co., journalize the entry on July 1 and the annual adjusting entry on December 31. (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 title are automatically indented when the amount is entered. Do not indent manually) Date Account Titles and Explanation eTextbook and Media List of Accounts Debit Credit