Question: Current Attempt in Progress Your answer is partially correct. On July 1, 2022, Teal NV pays 14,040 to Flint Insurance for a 3-year insurance policy.

Current Attempt in Progress Your answer is partially correct. On July 1, 2022, Teal NV pays 14,040 to Flint Insurance for a 3-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 Flint Insurance. Flint uses the accounts Unearned Insurance Revenue and Insurance 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 O for the amounts. Record journal entries in the order presented in the problem.) Debit Credit Date Account Titles and Explanation 14,040 July 1 Cash 14,040 2340 Dec 31 Unearned Service Revenue 2340 Service Revenue e Textbook and Media

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