19. A company purchases a on e-year insurance policy on June 1 for $2,760. The adjusting entry on December 31 is A. debit Insurance Expense, $1,380 and credit Prepaid Insurance, $1,380. B. debit Insurance Expense, $1,150 and credit Prepaid Insurance, S1,150. C, debit Insurance Expense, S1,610, and credit Prepaid Insurance, $1,610. D. debit Prepaid Insurance, $1,380, and credit Cash, $1,380. E. debit Prepaid Insurance $1,610 and credit Insurance Expense