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Brief Exercise 3-06 On July 1, 2019, Crane Co. pays $18,000 to Bramble Insurance Co. for a 4-year Insurance contract. Both co
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Date Account Title Debit Credit
Jul-01 Cash $     18,000
     Unearned service revenue $     18,000
Dec-31 Unearned service revenue $       2,250 18000*6/48
     Service revenue $       2,250
Unearned service revenue
Dec-31 $               2,250 07-Jan $     18,000
12/31 Bal. $     15,750
Service revenue
Dec-31 $       2,250
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