D 11 On January 1, 2020, Peach Company purchased a five-year insurance policy for $5,000. If the cost was debited to Prepaid Insurance, the adjusting entry at the end of 2020 is Debit Prepaid Insurance. $360: credit Insurance Expense, $360 Debit Insurance Expense, $360; credit Prepaid Insurance, $360 Debit Prepaid Insurance, $1,800 credit Cash, $1,800 Debit Insurance Expense, $1,000 credit Prepaid Insurance $1,000 O 02 2 5 B 9 + E R T T Y U 1 P S JUL G I K I zxc V B N. M .CAT 12 Expenses that support the overall operations of a business and include the expenses of such activities as providing accounting services, human resource management, and financial management are called Selling expenses General and administrative expenses Purchasing expenses Operating expenses P 6 8 w 9 O R Y A S O B P F G H K x c V B N M