Progress:$7/25$ items

Question Content AreaOn April $1,$ Year $1,$ Miller Company paid $$6,280$ for a two$-$year insurance policy. On that date, Miller recorded the purchase by debiting Prepaid Insurance and crediting Cash. The correct December $31,$ Year $1,$ adjusting entry would be

a$.$ Insurance Insurance $2,355$

Prepaid Expense $2,355$

b$.$ Insurance Insurance $3,925$

Prepaid Expense $3,925$

c$.$ Prepaid Insurance $2,355$

Insurance Expense $2,355$

d$.$ Prepaid Insurance $3,140$

Insurance Expense $3,140$