Question: On July 1 , 2 0 2 5 , Vaughn Co . pays $ 1 5 , 5 5 2 to Bramble Insurance Co .

On July 1,2025, Vaughn Co. pays $15,552 to Bramble Insurance Co. for a 3-year insurance policy. Both companies have fiscal years
ending December 31. For Vaughn Co., journalize the entry on July 1 and the adjusting entry on December 31.(Credit account titles are
automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter
0 for the amounts. Record journal entries in the order presented in tiso problem. List all debit entries before credit entries.)
On July 1,2025, Vaughn Co. pays $15,552 to Bramble Insurance Co.

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