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On July 1, 2025, Whispering Co. pays $10,752 to Metlock Insurance Co. for a 2-year insurance policy. Both companies have fiscal years ending December 31.

On July 1, 2025, Whispering Co. pays $10,752 to Metlock Insurance Co. for a 2-year insurance policy. Both companies have fiscal years ending December 31. Journalize the entry on July 1 and the adjusting entry on December 31 for Metlock Insurance Co. Metlock uses the accounts Unearned Service Revenue and Service Revenue

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