On July 1, 2025, Riverbed Co. pays $19,920 to Pharoah insurance Co. for a 2-year insurance contract. Both companies have fiscal years ending December 31. (a1) Your answer is correct. For Riverbed Co., journalize the entry on July 1 and the annual adjusting entry on December 31 . (List all debit entries before credit entries. Record joumal 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 tities are automatically indented when the amount is entered. Do not indent manualiy) For Riverbed Co., post the entries passed on July 1 and December 31. (Post entries in the order of journal entries presented in the previous part) For Riverbed Co., post the entries passed on July 1 and December 31. (Post entries in the order of joumal entries presented in the previous part.)