On July 1, 2022, Blossom Company pays $14,500 to Cullumber Company for a 1-year insurance contract. Both companies have fiscal years ending December 31. x Your answer is incorrect. Try again. Journalize the entry on July 1 and the adjusting entry on December 31 for Cullumber Company. Cullumber uses the accounts Unearned Service Revenue and Service Revenue. (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.) Date Account Titles and Explanation Debit Credit x SHOW LIST OF ACCOUNTS LINK TO TEXT x Your answer is incorrect. Try again. Post the entry on July 1 and the adjusting entry on December 31 for Cullumber Company. (Post entries in the order of journal entries presented in the previous part.) Unearned Service Revenue Service Revenue