Ily The prepaid insurance account of Canada Traders shows a balance of 8600, representing a payment on July 2020 of a two-year insurance premium. After adjustment at 31 December 2020, the close of the annual accounting period Quiz navi 2 6 7 Select one: a. Insurance expense in the income statement is $300 and prepaid insurance in the balance shwet is $300 b. Insurance expense in the income statement is $600 and prepaid insurance in the balance sheet is $0. C. insurance expense in the income statement is $150 and prepaid insurance in the balance sheet is $450. d. insurance expense in the income statement is $0 and prepaid insurance in the balance sheet is $000. 11 12 16 17 Finish