Exercise 4-7 (Part Level Submission) July 1, 2017, Crane Com pa ny pays $ 12,000 to Wil dhorse Co. for a 1-year insurance contract. Both com pan ies have fiscal years ending December 31. 9)Post the entry on July 1 and the adjustng entry on December 31 for Willdhorse Co., (Post entries in the order of journal antries presented In the previous part Uneamed Service Rvenue

CALCULATOR PRINTER VERLETON Brief Exercise 4-7 (Part Level Submission) On July 1, 2017, Crane Company pays $12,000 to Wildhorse Co. for a 1-year Insurance contract. Both companies have fiscal years ending December 31 (b) Post the entry on July 1 and the adjusting entry on December 31 for Wildhorse Co. (Post entries in the order of fournal entries presented in the previous part.) Uneared Service Revenue Service Revenue Brief Exercise 4-7 (Part Level Submission) On July 1, 2017, Crane Company pays $12,000 to Wildhorse Co. for a 1-year Insurance contract. Both companies have fiscal years ending December 31. Your answer is correct. Journalize the entry on July 1 and the adjusting entry on December 31 for Wildhorse Co.. Wildhorse uses the accounts Uneared Service Revenue and Service Revenue. (R- entries in the order presented the problem. If no entry is required, select "No Entry" for the account tities and enter for the amounts. Credit account to automatically indented when the amount is entered. Do not Indent manually.) Date Account Titles and Explanation Debit Credit July 1 Cash 12000 Unearned Service Revenue 12000 Dec.31 Unearned Service Revenue 6000 Service Revenue 6000