o On October 1, 2018, Gode Company paid $24,500 for one year of insurance for the period, October 1, 2018 through September 30, 2019. Which of the following will be part of the adjusting entry on December 31, 2018? O A Debit Prepaid insurance for $6.150 OB. Debit Insurance Expense for $6,150 OC. Debit Prepaid insurance for $18.450 OD. Debit Insurance Expense for $18,450 When preparing the financial statements, why is the income statement prepared first? O A. The income statement is the most important statement to investors and creditors. O B. The income statement is used to prepare the balance sheet. O c. Net income or net loss from the income statement is used for the statement of retained earnings. OD. The income statement is the easiest statement to prepare. On December 1, 2019. Carrie's Day Care receives $1.500 in advance for an agreement to care for Susan's children for the month of December, January, and February Carrie's Day Care wil make an adjusting entry on December 31, 2019 to: O A debil Unearned Revenue for $500 OB Credit Revenue for $1.000 OC credit Prepaid Revenue for $1.000 OD. Credit Revenue for $1.500