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2 What is the adjusting entry required for Prepaid Insurance on 31st December 2018 for the following situation?Business purchased an insurance policy of OMR 900

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2 What is the adjusting entry required for Prepaid Insurance on 31st December 2018 for the following situation?Business purchased an insurance policy of OMR 900 for full one year on Ist December 2018 t of a. None of these b. Debit Insurance Expenses OMR 300 Credit Prepaid Insurance OMR 300 c. Debit Insurance Expenses OMR 75 Credit Prepaid Insurance OMR 75 d. Debit Insurance Expenses OMR 600 Credit Prepaid Insurance OMR 600

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