For Ling Co$.,$ journalize the entry on July $1$ and the annual adjusting entry on December $31.($List all debit entries before credit entries. Record journal entries in the order presented in the problem. If no entry is required, select $"$No Entry" for the account titles and enter $0$ 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

Prepaid Insurance

Cash

Insurance Expense

Prepaid Insurance

eTextbook and Media

List of Accounts

Attempts: $1$ of $3$ used

For Ling Co$.,$ post the entries passed on July $1$ and December $31.($Post entries in the order of journal entries presented in the previous part.$)$