M4-5 (c) AJEs for Catena's Marketing Company Catena's Marketing Company paid $5,000 for a two-year insurance premium on July 1 of the current year; debited Prepaid Insurance for that amount. Which of the following is true about the AJE that is made on December 31 of the current year? Multiple Choice Credit prepaid insurance expense. Debit prepaid insurance expense. O Debit insurance asset. O Credit cash. Credit insurance expense