On July 1, 2025, Sandhill Co. pays $16,500 to Bridgeport Insurance Co. for a 1 -year insurance contract. Both companies have fiscal years ending December 31 . (a1) Your answer is correct. Journalize the entry on July 1 and the adjusting entry on December 31 for Bridgeport Insurance Co. Bridgeport uses the accounts Unearned Service Revenue and Service Revenue. (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 occount tities are outomatically indented when the amount is entered. Do not indent manually) Post the entry on July 1 and the adjusting entry on December 31 for Bridgeport Insurance Co. (Post entries in the order of joumal entries presented in the previous part.)