For Sandhill Co$.,$ 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

Prepaid Insurance

Cash

Insurance Expense

Prepaid Insurance

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List of Accounts

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For Sandhill Co$.,$ 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.$)$

Insurance Expense

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