Post the entry on July 1 and the adjusting entry on December 31 for Wildhorse Co.. (Post entries in the order of journal entries presented in the previous part.) Unearned Service Revenue Service...

On July 1, 2022, Sheridan Company pays $18,500 to Wildhorse Co. for a 2-year insurance contract. Both companies have fiscal years ending December 31.

Extracted text: Post the entry on July 1 and the adjusting entry on December 31 for Wildhorse Co.. (Post entries in the order of journal entries presented in the previous part.) Unearned Service Revenue Service Revenue