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  3. on july 1,2025, pharoah co, pays \(\$ 19,920\) to

On July 1,2025, Pharoah Co, pays \(\$ 19,920\) to Riverbed Insurance Co. for a 2-year...

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Accounting

On July 1,2025, Pharoah Co, pays \(\$ 19,920\) to Riverbed Insurance Co. for a 2-year insurance contract. Both companies have fiscal years ending December 31.(a1) Your answer is correct. Journalize the entry on July 1 and the adjusting entry on December 31 for Riverbed insurance Co. Rherbed uses the accounts Unearned Service Revenue; and Service Revenue. (Uist all debit entries before credit entries. Record journol entries in the onder presented in the problem. If no entry is required, select "No Entry" for the occount titles ond enter Ofor the amounte. Credit account titles are dutometically indented when the amount is entered. Do not indent monuollydPost the entry on July 1 and the adjusting entry on December 31 for Riverbed Insurance Co.(Post entries in the order of journal entries presented in the previous part.)
Your answer is partially correct.
Post the entry on July 1 and the adjusting entry on December 31 for Marsh Insurance Co.(Post entries in the order of journal entries presented in the previous part.)
Unearned Service Revenue
Service Revenue
eTextbook and Media
List of Accounts
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