Question: correct answer please Brief Exercise 4-7 On July 1, 2017, Sandhill Co. pays $22,000 to Cullumber Company for a 1-year insurance contract. Both companies have

correct answer please

Brief Exercise 4-7 On July 1, 2017, Sandhill Co. pays $22,000 to Cullumber Company for a 1-year insurance contract. Both companies have fiscal years ending December 31. Journalize the entry on July 1 and the adjusting entry on December 31 for Cullumber Company. Cullumber uses the accounts Unearned Service Revenue and Service Revenue. (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 Cash 22000 Unearned Service Revenue 22000 Dec. 31 Unearned Service Revenue Service Revenue SHOW LIST OF ACCOUNTS udy LINK TO TEXT INTERACTIVE TUTORIAL Post the entry on July 1 and the adjusting entry on December 31 for Cullumber Company. (Post entries in the order of journal entries presented in the previous part.) Unearned Service Revenue 12/31 Service Revenue

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