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On July 1 2025, Oriole Co. pays $13,920 to Bramble Insurance Co. for a 1-vear insurance contract. Both companies have fiscal years ending December 31

On July 1 2025, Oriole Co. pays $13,920 to Bramble Insurance Co. for a 1-vear insurance contract. Both companies have fiscal years ending December 31 Post the entry on July 1 and the adjusting entry on December 31 for Bramble Insurance Co. (Post entries in the order of journal entries presented in the previous part.)

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