Hard Supplies Inc. purchased a 12-month insurance policy on March 1, 2010 for $900. At March 31, 2010, the adjusting journal entry to record expiration of this asset will include a

a.

debit to Prepaid Insurance and a credit to Cash for $900.

b.

debit to Insurance Expense and a credit to Prepaid Insurance for $75

c.

debit to Insurance Expense and a credit to Cash for $75.

d.

debit to Prepaid Insurance and a credit to Insurance Expense for $100