An insurance policy premium of \(\$ 1,200\) 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:

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