q1

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q2

On July 1, 2025, Bramble Co. pays $13,920 to Oriole Insurance Co. for a 1-year insurance contract. Both companies have fiscal years ending December 31. For Bramble Co., journalize the entry on July 1 and the annual adjusting entry on December 31. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) On July 1, 2025, Blossom Co. pays $17,400 to Sarasota Insurance Co. for a 1-year insurance contract. Both companies have fiscal years ending December 31. (a1) Journalize the entry on July 1 and the adjusting entry on December 31 for Sarasota Insurance Co. Sarasota uses the accounts Unearned Service Revenue and Service Revenue. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)