QUESTION 4 On December 31, 2019, Aver Corporation paid $11,000 for next year's insurance policy. This transation should be recorded as follows by Aver: Credit General Journal Insurance expense Insurance payable Debit 11,000 1. 11,000 2. 11,000 Prepaid insurance Insurance payable 11,000 3 11,000 Prepaid insurance Cash 11,000 4. 11,000 Insurance expense Cash 11,000 Option 1 Option 2 Option 3 Option 4