On March 1, 20X1. McScare Company paid $3,400 for an insurance policy on some equipment that will be in effect for the 12 months from March 1. 20x1 through February 28, 20x2. McScare recorded this payment on March 1 by debiting Insurance Expense. On October, 20X1. McScare paid an additional $4.900 for an insurance policy on a building that will be in effect for the 12 months from October 1. 20x1 through September 30, 20x2. McScare recorded this payment on October 1 by debiting Prepaid Insurance On December 31, 20X1. McScare makes one summary adjusting entry to ensure that the amount of Insurance Expense for 20X1 and the Prepaid Insurance amount as of December 31, 20X1 are both correct. Note: Financial statements are only prepared and reported annually at calendar year end, December 31. The necessary summary adjusting entry for December 31, 20X1. includes which of the following? A DEBIT to Insurance Expense for $3,675 O A DEBIT to Insurance Expense for $658 O ACREDIT to Prepaid Insurance for $2.833 O A CREDIT to Prepaid Insurance for $1.225