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AAMI Ltd Prepaid Insurance account shows a balance of $3000, representing 4 year insurance premium paid on 01/04/20XX. What is the adjusting entry as at

AAMI Ltd Prepaid Insurance account shows a balance of $3000, representing 4 year insurance premium paid on 01/04/20XX. What is the adjusting entry as at 30/06/20XX? Insurance Expense Dr 187.50 Prepaid Insurance Cr 187.50 Prepaid Insurance Dr 187.50 Insurance Cr 187.50 Prepaid Insurance Dr 187.50 Insurance Expense Cr 187.50 Insurance Expense Dr 750.00 Prepaid Insurance Cr 750.00

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