At the beginning of a period there is a balance of $4.000 in Prepaid Insurance. During the period you purchase an additional $18.000 of Insurance. At the end of the period your analysis indicates that $3,000 is the amount applicable to future periods. What would be the proper adjusting entry at the end of this period? Select one a. debit Prepaid Insurance 18,000 and credit Insurance Expense 18,000 Ob debit Insurance Expense 3,000 and credit Prepaid Insurance 3,000 c. debit Insurance Expense 19,000 and credit Prepaid Insurance 19,000 d. debit Insurance Expense 19,000 and credit Cash 19,000