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2 Use this information for Questions 11 and 12 On October 1, 2021, Auto Co. paid for a one-year insurance policy costing $1,200 and

2 Use this information for Questions 11 and 12 On October 1, 2021, Auto Co. paid for a one-year insurance policy costing $1,200 and made the following entry on that date: Prepaid insurance Cash CREDIT DEBIT 1,200 1,200 What is the correct balance in the Prepaid Insurance account at December 31, 2021? O a. $0 O b. $300 O c. $900 Od. $1,200

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