LSUS inc. purchased an one$-$year hazard insurance polizy on August $1$ and recorded the $$12,000$ premium to prepaid insurance. suppose the policy will be usad everly every month, at its December $31$ year$-$end, LSUS inc would record which of the following adjusting entries?

a$.$ Debit insurance expense by $$5,000,$ credit prepaid insurance by $$5,000$

b$.$ Debit insurance expense by $$9,000,$ credit prepaid insurance by $$9,000$

c$.$ Debit insurance expense by $$5,000,$ debit prepaid insurance by $$7,000,$ cred$$t accounts payable by $$12,000$

d$.$ Debit prepaid insurance by $$3,000,$ credit insurance expense by $$3,000$