Current Attempt in Progress

On July $1,2022,$ Oriole Company pays $$13,888$ to Pharoah Company for a $2-$year insurance contract. Both companies have fiscal

years ending December $31.$

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. Credit account titles are automatically indented when the amount is entered. Do not indent manually.$)$

Date

Account Titles and Explanation

Debit

Credit

eTextbook and Media

List of Accounts

For Oriole Company, post the entry on July $1$ and the annual adjusting entry on December $31.($Post entries in the order of journal

entries presented in the previous part.$)$

Prepaid Insurance

Insurance Expense