Assume Idaho Company recorded the following adjusting journal entry at year$-$end:

Account Title Debit Credit

Insurance expense $3,100$

Prepaid insurance $3,100$

If the beginning balance in prepaid insurance was $$100,$ and $$8,000$ was paid for an insurance premium during the year, what is the ending balance in the prepaid insurance account after the above adjusting entry?

Multiple Choice

$$7,700$

$$4,700$

$$5,200$

$$5,000$