On May 1, 2013, you purchase a 1-year insurance policy for $1,800. At your year-end, December 31, 2013 you have to make which of the following entries, assuming you have made no other entries in the meantime re this policy?

a)	Increase Prepaid Insurance $600 and decrease Insurance Expense $600.

b)	Increase Insurance Expense $1,200 and decrease Prepaid Insurance $1,200

c)	Increase Insurance Expense $600 and decrease Prepaid Insurance $600.

d)	Increase Prepaid Insurance by $1,200 and decrease Insurance Expense $1,200.

e)	No entry as you would expense $1,800 when you purchased the insurance policy.