Pharoah Company purchased a $12-$month insurance policy on March $1,2025$ for $$4800.$ At March $31,2025,$ the adjusting journal entry to record expiration of this asset will include

a debit to Insurance Expense and a credit to Cash for $$400.$

a debit to Prepaid Insurance and a credit to Insurance Expense for $$480.$

a debit to Insurance Expense and a credit to Prepaid Insurance for $$400.$

a debit to Prepaid Insurance and a credit to Cash for $$4800.$