CALCULATOR PRINTER VERSION 4 BACK NEXT Brief Exercise 4-07 (Part Level Submission) On July 1, 2022, Oriole Company pays $20,000 to Pharoah Company for a 2-year Insurance contract. Both companies have fiscal years ending December 31 (al) Your answer is partially correct. Try again. For Oriole Company, journalize the entry on July 1 and the annual adjusting entry on December 31. (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 Account Titles and Explanation Debit Credit July 1 Prepaid Insurance 20,000 Cash 20,000 Dec. 31 Prepaid Insurance Click if you would like to Show Work for this question: Open Show Work eu TETAPE 10:43 PM 9/30/2020 search