ending December $31.$

Your answer is partially correct.

For Crane 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

July $1$

$$

Unearned Service Revenue

Dec. $31$

Unearned Service Revenue

Service Revenue

eTextbook and Media

Solution

List of Accounts

Your answer is incorrect.

For Crane 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