.On March 1, 20X3, the Chinabell Company paid 6 months' insurance in advance, covering the period of March 1 to August 31, 20X3. The total payment was $2,400. At the time of the payment, the entire amount was used to increase the balance in the Prepaid Insurance account What will be the balance in the Prepaid Insurance account as of March 31, 20X3 (i.e., what will be reflected in the balance sheet)? c. $2,000 d. $2.400 b. $800