Question: On July 1 , 2 0 2 2 , Carla Vista Co . pays $ 1 1 , 9 0 4 to Sheridan Company for

On July

1, 2022,

Carla Vista Co

.

pays $

11, 904

to Sheridan Company for a

2 -

year insurance contract. Both companies have fiscal years ending December

31 .

For Carla Vista 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

On July 1,2022, Carla Vista Co. pays $11,904 to Sheridan Company

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