pt in Progress On July 1, 2025, Oriole Co. pays $13,608 to Waterway Insurance Co. for a 3-year insurance policy. Both companies have fiscal years ending December 31. Journalize the entry on July 1 and the adjusting entry on December 31 for Waterway Insurance Co. Waterway uses the accounts Unearned Service Revenue and Service Revenue. (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 the problem. List all debit entries before credit entries.) Date Account Titles and Explanation # Debit Credit
pt in Progress On July 1, 2025, Oriole Co. pays $13,608 to Waterway Insurance Co. for a 3-year insurance policy. Both companies have fiscal years ending December 31. Journalize the entry on July 1 and the adjusting entry on December 31 for Waterway Insurance Co. Waterway uses the accounts Unearned Service Revenue and Service Revenue. (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 the problem. List all debit entries before credit entries.) Date Account Titles and Explanation # Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Aa.5
Transcribed Image Text:Current Attempt in Progress
On July 1, 2025, Oriole Co. pays $13,608 to Waterway Insurance Co. for a 3-year insurance policy. Both companies have fiscal years
ending December 31. Journalize the entry on July 1 and the adjusting entry on December 31 for Waterway Insurance Co. Waterway
uses the accounts Unearned Service Revenue and Service Revenue. (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 the problem. List all debit entries before credit entries.)
Date Account Titles and Explanation
Debit
Credit
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