The company paid their insurance premium for 6 months on August 14. They paid Austin Insurance Company $32,000. The journal entry would be: a. Insurance Expense 32,000 Prepaid Insurance Expense 32,000 b. Prepaid Insurance Expense 32,000 Cash 32,000 32,000 c. Prepaid Insurance Expense Insurance Expense 32,000 d. Cash Prepaid Insurance Expense 32,000 32,000 Clear my choice