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  3. on july 1, 2019, wildhorse co. pays $22.500 to blo

On July 1, 2019, Wildhorse Co. pays $22.500 to Blossom Insurance Co. for a 4-year...

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Accounting

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On July 1, 2019, Wildhorse Co. pays $22.500 to Blossom Insurance Co. for a 4-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 Blossom Insurance Co. Blossom uses the accounts Unearned Service Revenue and Service Revenue. (Credit account tities are automatically inderted when the amount is entered. Do not Indent manually. Record joumal entries in the order presented in the problem. Round answers to decimal places, eg. 5,275.) Debit Account Titles and Explanation Date Credit Unearned Service Revenue Service Revenue

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