On June 30,2009 , Apricot Co. paid $5,000 cash for management services to be performed over a two-year period. Apricot follows a policy of recording all prepaid expenses to asset accounts at the time of cash payment. The adjusting entry on December 31, 2009 for Apricot would include: A debit to an expense for $1,250 A debit to a prepaid expense for $1,250 A credit to an expense for $3,750 A debit to a prepaid expense for $3,750 A credit to a liability for $1,250