Braun Corp. purchased a service vehidle iability policy in July,2015 and paid a five-year premiu m for $300,000. It was recorded as Insurance Expense. The error was entries. What is the proper entry to correct the errors if the tax rate for all years is discovered in eartly 2018 when the accountants were reconciling 2017 for adjusting 40%7 O A. No entry needed because it will self-correct in two more years O B. Account Debit 210,000 40,000 Credit Prepaid Insurance Prepaid Income Taxes Retained Earnings-Prior Perlod Ad 250,000 O C. Account Debit 150,000 Credit Prepaid Insurance (End 2017) Income Taxes Payable Retained Eamings-Prior Period Ad 60,000 90,000 O D. Account Debit 150,000 60,000 Credit Prepaid Insurance (End 2017) Insurance Expense (2017) Income Taxes Payable Retained Earnings-Prior Period Adj 84,000 126,000