Harrod Company paid $5.200 for a 4-month insurance premium in advance on November 1 with coverage beginning in that date. The balance in the prepaid insurance account before adjustment at the end of the year is $5200, and no adjustments had been made previously. The adjusting entry required on December 31 is: Debit Insurance Expense 51300 credit Prepaid insurance, $300 C) Debit Prepaid insurance $1.00, credit Insurance Expense, 1300 o Debt insurance Expense, $2,600 credit Prepaid insurance, 52,600 Debit Prepard insurance $2,000 credit insurance 2,600 O Debit Cash $5.200 Credit Prepaid Insurance, 55,200