View Policies Current Attempt in Progress On July 1, 2022, Crane Co. pays $15,120 to Novak Corp. for a 2-year insurance contract. Both companies have fiscal years ending December 31. For Crane Co., enter the July 1 transaction and the December 31 adjustment in the tabular summary that follows. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Cash Prepd. Ins. Com. Jul. 1 Dec. 31 Adj. Bal. e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer View Policies Current Attempt in Progress On July 1, 2022, Crane Co.pays $15,120 to Novak Corp. for a 2-year insurance contract. Both companies have fiscal years ending December 31. For Crane Co., enter the July 1 transaction and the December 31 adjustment in the tabular summary that follows. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Stockholders' Equity Com. Stock Rev. Exp. (Ins.) Div. e Textbook and Media Save for Later Attempts: 0 of 3 used Submit