on July 1st 2019, whispering winds Corp pays $17,100 to kalter insurance co for a 3 year insurance contract. both companies have fiscal year December 31. journalize and post the entry on July 1st and adjusting entry on December 31 for kalter insurance co. kalter uses the accounts unearned service revenue and service revenu

Question 4 of 14 0.54/15 Your answer is partially correct. On July 1, 2019, Whispering Winds Corp. pays $17,100 to Kalter Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31. Journalize and post the entry on July 1 and the adjusting entry on December 31 for Kalter Insurance Co. Kalter uses the accounts Unearned Service Revenue and Service Revenue. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. Record journal entries in the order presented in the problem.) Account Titles Debit July 1 Date Credit Unearned Service Revenue 17100 Cash 17100 Dec. 31 Service Revenue 2850 Prepaid Insurance 2850 Unearned Service Revenue 7/1 17100 12/31 2850 12/31 Bal 14250 12/31 Bal. v 14250 Service Revenue 12/31 2850 12/31 2850