On March 1 of Year 1, Murray Company paid cash for insurance. This insurance payment covers the period from March 1 of Year 1 to February 28 of Year 2. On March 1 of Year 1 this amount was recorded as an asset, Prepaid Insurance. Which debit or credit is correctly included in the adjusting journal entry necessary on December 31 with respect to this insurance paid in advance?

A. DEBIT to Insurance Expense

B. CREDIT to Insurance Expense

C. DEBIT to Prepaid Insurance

D. DEBIT to Cash