On March 31, the Turi Company purchased a two-year fire insurance policy. Turi recorded the purchase by debiting Prepaid Insurance and crediting Cash for $10,000. Which of the following adjusting entries should Turi prepare at the end of the year? Debit Insurance Expense, $3,750; Credit Prepaid Insurance, $3,750 o Debit Prepaid Insurance, $3,750 : Credit Insurance Expense, $3,750 Debit Insurance Expense. $5,000 : Credit Prepaid Insurance, $5,000 O Debit Prepaid Insurance, $5500 : Credit Insurance Expense, $5,500