19. The balance in the prepaid insurance account before adjustment at the end of the year is $4,800, which represents the insurance premiums for four months. The premiums were paid on November 1. The adjusting entry required on December 31 is: A) Debit Insurance Expense, $2,400; credit Prepaid Insurance, $2,400. B) Debit Prepaid Insurance, $2,400; credit Insurance Expense, $2,400. C) Debit Insurance Expense, $1,200; credit Prepaid Insurance, $1,200. D) Debit Prepaid Insurance, $1,200; credit Insurance Expense, $1,200 E) Debit Cash, $4,800; Credit Prepaid Insurance, $4,800.