The date of the financial statement is 12/31. What is the adjusting journal on 12/31 for the following transaction: A total of $3,000 was paid for a 3 month insurance policy on 12/1. A. Debit Cash $1,000 B. Credit Cash $1,000 C. Debit Prepaid Insurance $1,000 D. Debit Insurance Expense $1,000