Help Seve& Exit Submit On September 1,2019, Jay Walker Company purchased a one-year insurance policy for $1,320. The correct adjusting entry on December 31, 2019,i Multiple Choice debit Insurance Expense $440; credit Prepaid Insurance $440 debit Insurance Expense $330; credit Prepsid Insurance $330 debit Prepaid Insurance $110, credit Insurance Expense $10o debit Prepaid Insurance $1,320, credit Insurance Expense $1,320