Question: ALCATO FULL SCREEN PRINTER VERSION BACK Brief Exercise 4-07 (Part Level Submission) On July 1, 2022, Pharoah Company pays $24,000 to Crane Company for a

ALCATO FULL SCREEN PRINTER VERSION BACK Brief Exercise 4-07 (Part Level Submission) On July 1, 2022, Pharoah Company pays $24,000 to Crane Company for a 1-year insurance contract. Both companies have fiscal years ending December 31. (al) For Pharoah Company, journalize the entry on July 1 and the annual adjusting entry on December 31. (Acord journal entries in the order presented in the problem If no entry is required, select "No Entry for the account titles and enter for the amounts Credit account titles are automatically indented when the amount is enten hot indent a lly.) Date Account Titles and Explanation Credit July 1 Dec. 31 LINK TO TEXT Attempts: 0 of Sused SUSRET ANSWER SAVE FOR LATES (2)

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