On 15 May Osaka paid $720 cash for an 18-month insurance policy with 15% GST exclusive. What is the general journal entry to record the payment? Select one: a. Debit Prepaid Insurance $828, Credit GST Paid $108 and Equity $720. b. Debit Prepaid Insurance $720, and GST Paid $108, Credit Cash $828. c. Debit Prepaid Insurance $720, Credit Cash $720. d. Debit Prepaid Insurance $720, and GST Collected $108, Credit Cash $828.