On July 1,2027, Cheyenne Co. pays $10,560 to Oriole Insurance Co. for a 2-year insurance...

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Accounting

On July 1,2027, Cheyenne Co. pays $10,560 to Oriole Insurance Co. for a 2-year insurance contract. Both companies have fiscal years
ending December 31. For Oriole Insurance Co., enter the July 1 transaction and the December 31 adjustment in the tabular summary
that follows. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of
the amount entered for the particular Asset, Liability or Equity item that was reduced.)
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