Ayres Corporation paid $18,000 on July 1, 2020 for an insurance policy on its building for the next three years (36 months. Aytes makes its adjusting entries at the end of the year. On December 31, 2020, for the year ended December 31, 2020, what journal entry should Ayres make assuming no prior adjusting entry for this insurance has been made? Debit Insurance Expense 3,000: Credit Cash 3,000. Debit Insurance Expense 18,000, Credit Cash 18,000 Debit Insurance Expense 3,000: Credit Prepaid Insurance 3,000 Debit Prepaid Insurance 3,000; Credit Insurance Expense 3.000