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On January 17th 2021, Muscat Company Paid OMR 5,000 for a one-year insurance policy. The Journal Entry should be: Select one: Select one: O a

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On January 17th 2021, Muscat Company Paid OMR 5,000 for a one-year insurance policy. The Journal Entry should be: Select one: Select one: O a DEBIT Cash OMR 5,000 and CREDIT Prepaid Insurance Expense OMR 5,000 O b. DEBIT Cash OMR 5,000 and CREDIT Insurance Expense OMR 5,000 O C. DEBIT Prepaid Insurance Expense OMR 5.000 and CREDIT Cash OMR 5,000 O d. DEBIT Insurance Expense OMR 5,000 and CREDIT Cash OMR 5,000 O e. No entry-not a transaction

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