An insurance policy premium of S 1 .200 was paid on September 1. 1999, to cover a one-year period from that date. An asset was debited on that date. Adjusting entries are prepared once a year, at year-end. The necessary adjusting entry at the company's year-end, December 31. 1999. is: pg85

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a. Prepaid Insurance. Insurance Expense Prepaid Insurance. b. Insurance Expense c. Prepaid Insurance. d. Insurance Expense Prepaid Insurance. Insurance Expense 400 400 800 800 800 800 400 400