Question 4 Percy's Kitchens paid 518.200 for a one-year insurance policy on January 1 and recorded the entire amount as prepaid insurance. Before should make which of the following adjusting entries? debit Cash, 518,200, credit Insurance Expense, 518,200 debit Cash 59.100 credit Prepaid Insurance, 59.100 debit insurance Expense, 54 550 credit Prepaid Insurance 54,550. debit Prepaid surance 513.650 credit Insurance Expense 513,650