2 At the beginning of the year, a business had a two-year, $2,400 insurance policy on its office equipment. On July 1, it purchased a three-year, $3,600 policy on a newly constructed building. Which of the following will be the December 31, year-end, adjusting entry? A) Insurance Expense, debit, $6,000; Prepaid Insurance, credit, $6,000 B) Insurance Expense, debit, $2,400; Prepaid Insurance, credit, $2,400 C) Insurance Expense, debit, $2,100; Prepaid Insurance, credit, $2,100 D) Insurance Expense, debit, $1,800; Prepaid Insurance, credit, $1,800 E) None of the journal entries in this group