Early in 2021. Colbourn Supplies discovered that a five-year insurance premium payment of $80,000 at the beginning of 2019 was debited to insurance expense. The correcting entry would include (ignore taxes): A credit to retained earnings of $48,000. A debit to prepaid insurance of $80,000 A debit to insurance expense of $48,000 A debit to prepaid insurance of 532.000