Brief Exercise 3-04 Your answer is partially correct. Try again. On July 1, 2020, Oriole Co. pays $9,800 to Waterway Insurance Co. for a 2-year insurance policy. Both companies have fiscal years ending December 31. Journalize the entry on July 1 and the adjusting entry on December 31 for Waterway Insurance Co. Waterway uses the accounts Unearned Service Revenue and Service Revenue. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) Account Titles and Explanation Credit Date Debit Unearned Service Revenue July 1 9800 Cash 9800 Dec. 31 Service Revenue 2042 Unearned Service Reve 2042