On July 1, 2025, Cullumber Co. pays $18,480 to Pina Colada Insurance Co. for a 2-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 Pina Colada Insurance Co. Pina Colada 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 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date + Account Titles and Explanation I eTextbook and Media List of Accounts Debit Credit

On July 1,2025 , Cullumber Co. pays $18,480 to Pina Colada Insurance Co, for a 2-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 Pina Colada Insurance Co. Pina Colada 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 0 for the amounts. Credit account titles are automatically indented when the omount is entered. Do not indent manually.) Post the entry on July 1 and the adjusting entry on December 31 for Pina Colada Insurance Co. (Post entries in journal entries presented in the previous part.)