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Question 2 of 4 Current Attempt in Progress On July 1, 2025, Oriole Co. pays $19,440 to Pronghorn 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 Pronghorn Insurance Co. Pronghorn 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.) Date July 1 Account Titles and Explanation Cash 1/2 Debit 19440 Credit

Journalize the entry on July 1 and the adjusting entry on December 31 for Pronghom Insurance Co. Pranghom uses the accounts presented in the pratlem. If no entry ls requind, seiect 'No Entry' for the account tities and encer Ofor bie amounts. Credit account tleles. years ending Decamber 31 . (a1) Your answer is correct Journalize the entry on July 1 and the adjusting entry ca December 31 for Pronghorn Insurance Ca. Pronghorn uses the acrounts. Unearned Service Revenue and Service Revenue. Wist oll debit entries beforecondit entries Recond journal entries in the order presented in the problem. If no entry is requind, select "No Entry for the account tieles and enter ofor the amounts. Credit account tities ore outomatically indented when the emount is entered Do not indent manualiy) On July 1, 2025. Oriole Co. piys $19,440 to Pronghorn Insurance Co. for a 2-year insurance contract Both companies hame fiscal vears ending December 31 . (a1) Your answer is corcect. Journalize the entry on July 1 and the adjusting entry on December 31 for Pronghorn insurance Co. Pronghorn uses the accoumits Unearned Service Revenue and Service Revenue. Ulit all debit entrles before credit entries. Recond journal entries in the arder are outomotically indentef when the amount is entered. Do not indent mancally. Post the entry on July 1 and the adjusting entry on December 31 for Pronghorn Irisurance Co. (Pust endrits in the order of journal enbries presented in the prevlous parti.)

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