On October 1 you purchase 12 months of insurance costing $1,200 and record the full amount in the insurance expense account. If your fiscal year end is December 31, what entry will be needed at the end of the year? a) Dr. Accrued Expense; Cr. Insurance Expense Ob) Dr. Insurance Expense; Cr. Accrued Expense O c ) Dr. Prepaid Insurance; Cr. Insurance Expense d) Dr. Insurance Expense; Cr. Prepaid Insurance e) None of the above