PLEASE ANSWER ASAP!

The balance in the Prepaid Insurance account on the unadjusted trial balance (before adjustment) is $8,400. This balance is the result of a prepayment of insurance made on December 1, 20X1 for coverage from December 1, 20X1 through May 31, 20X2. The adjusting entry required at year-end on December 31 is:

A. Debit Insurance Expense $7,000; credit Prepaid Insurance $7,000.

B. Debit Prepaid Insurance $8,400; credit Cash $8,400.

C. Debit Insurance Expense $1,400; Credit Prepaid Insurance, $1,400.

D. Debit Insurance Expense $1,400; credit Cash $1,400.