A four year insurance policy in the amount of $10,000 was purchased two years ago. What is the adjusting entry to record insurance expense for the current year? ODEBIT: Insurance Expense for $2,500, CREDIT: Prepaid Insurance for $2,500 DEBIT: Insurance Expense for $5.000; CREDIT: Prepaid Insurance for $5,000 DEBIT: Prepaid Insurance for $2,500; CREDIT: Insurance Expense for $2,500 O DEBIT: Prepaid Insurance for $5,000: CREDIT: Insurance Expense for 55,000