Question 49 of 50 3.5 Points The Onolicious LLP purchased for cash a three-year insurance policy on June 1, Year 2, for $18,000 that took effect immediately. The company expensed the full cost of the policy upon purchase in Year 2. The correct journal entry for Year 2 (ending December 31) will include a: A. credit Cash $14,500 B. debit Insurance Expense $14,500 C. debit Prepaid Insurance $14,500 D. credit Prepaid Insurance $18,000 Reset Selection