(Answered) On july 1 2015 dobbs co pays 14400 to kalter insurance co

Accounting

On July 1, 2015, Dobbs Co. pays $14,400 to Kalter Insurance Co. for a 3-year insurance contract, Both companies have fiscal years ending December 31.

Journalize and post the entry on July 1 and the adjusting entry on December 31 for Kalter Insurance Co. Kalter uses the accounts Unearned Service Revenue and Service Revenue. (credit account titles are automatically indented when the amount is entered. Do not indent manually.)

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