a$148.$ On January $2,2008,$ Federal Savings and Loan purchased a general liability insurance policy for $$2,400$ for coverage for the calendar year. The entire $$2,400$ was charged to Insurance Expense on January $2,2008.$ If the firm prepares monthly financial statements, the proper adjusting entry on January $31,2008,$ will be:

a$.$ Insurance Expense. $q,$

Prepaid Insurance. $q,$

b$.$ Prepaid Insurance. $q,$

Insurance Expense $q,$

c$.$ Insurance Expense. $q,$

Prepaid Insurance $q,$

d$.$ Prepaid Insurance $q,$

Insurance Expense $q,$

$\backslash$table$[[2,200,],[2,200,2,200],[200,2,200],[200,200],[,200]]$