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Jackson Company records all insurance premiums as prepaid insurance. Additional information for the current year is presented below Prepaid Insurance, January 1 Insurance premiums paid

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Jackson Company records all insurance premiums as prepaid insurance. Additional information for the current year is presented below Prepaid Insurance, January 1 Insurance premiums paid Prepaid Insurance, December 31 $40,000 $240,000 $81,000 What was the total amount of insurance expense incurred during the year? O A. $321.000 O B. $281,000 OC. $280,000 O D, $199 000

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