On July 1 of the current year, Uber paid a premium in advance on a one-year insurance policy on equipment in the amount of $72,000. At the time, the full amount was recorded as prepaid insurance. On December 31, Uber would be required to record an adjusting entry that would include which of the following:

A. $6,000 Increase to insurance expense

B . $6,000 decrease to prepaid insurance

C. $12,000 increase to insurance expense

D. $12,000 decrease to prepaid insurance