Question: On july 1 , 2 0 2 7 , Pharoah Co . pays 2 0 8 0 0 to Sheridan insurance Co . for a

On july 1,2027,Pharoah Co.pays 20800 to Sheridan insurance Co.for a 4-year

On july 1,2027,Pharoah Co.pays 20800 to Sheridan insurance Co.for a 4-year insurance contract. Both companies have fiscal years ending December 31.
For Pharoah Co,,journalize and post the entry on July 1 and the annual adjusting entry on December 31
insurance contract. Both companies have fiscal years ending December 31. For Pharoah

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