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Please help me and explain how I apply the numbers on these boxes. Be clear On July 1, 2022. Oriole Company pays $14,000 to Carla

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Please help me and explain how I apply the numbers on these boxes. Be clear

On July 1, 2022. Oriole Company pays $14,000 to Carla Vista Co.for a 1-year insurance contract. Both companies have fiscal years ending December 31. For Oriole Company, post the entries passed on July 1 and December 31. (Post entries in the order of journal entries presented in the previous part.) Prepaid Insurance Insurance Expense

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