2 pts Question 38 On March 31, the Turi Company purchased a two-year fire insurance policy. Turi recorded the purchase by debiting Prepaid Insurance and crediting Cash for $10,000. Which of the following adjusting entries should Turi prepare at the end of the year? ho Debit Insurance Expense. $5,000: Credit Prepaid Insurance. $5,000 Debit Prepaid Insurance. $5,500: Credit Insurance Expense. $5,500 Debit Insurance Expense, $3,750: Credit Prepaid Insurance. $3,750 Debit Prepaid Insurance. $3,750: Credit Insurance Expense, $3,750 2 pts D Question 39 On June 1, Little Corporation received $5,320 in advance for a two-year rental of land and properly credited Unearned Rent. In the adjusting entry at December 31, there would be a: Credit to Rent Revenue for $1,552 Debit to Unearned Rent for $5,320 Credit to Unearned Rent for $1,552 Debit to Unearned Rent for $1,108