On December 15th, 2019 Apple pays $120,000 for a 12 month insurance policy which begins on January, 2020. What is the entry Apple records on December 15th, 2019? DR Insurance Expense $120,000 CR Cash $120,000 DR Prepaid Insurance $120,000; CR Cash $120,000 DR Cash $120,000; CR Insurance Expense DR Cash $120,000; CR Prepaid Insurance $120,000 Question 4 0.5 pts On December 15th, 2019 Apple pays a $120,000 premium for a 12 month insurance policy which begins on January 1, 2020. Assuming an adjusting entry is made monthly what is the adjusting entry Apple would record on January 31, 2020, DR Prepaid Insurance $10,000; CR Insurance Expense $10,000 No entry is needed on January 31, 2020 DR Insurance Expense $10,000; CR Prepaid Insurance $10,000 DR Prenaid Insurance $120.000 SR Insurance Fxpense $120.000