Chet Company paid $52,800 for a four-year insurance policy on September 1 and recorded the $52,800 as a debit to Prepaid Insurance and a credit to Cash. What adjusting entry should Chet make on December 31, the end of the accounting period (no previous adjustment has been made)? Select one: O a. A) Prepaid Insurance 48,400 Insurance Expense 48,400 O b. A) Insurance Expense 13,200 Prepaid Insurance * 13,200 O C. A) Prepaid Insurance 4,400 Insurance Expense 4,400 O d. A) Insurance Expense 4,400 Prepaid Insurance 4,400