The insurance total of R12 000 on 28 February 2023, the end of the financial year, included a premium of R3 000 that was paid for the period 01 August 2022 to 31 July 2023. Which of the following statements is correct? A. R1 750 was paid for the financial year ended 28 February 2024. B. R1 250 was paid in advance. C. The profit will decrease because of the adjustment entry. D. The insurance expense for the year ended 28 February 2023 amounts to R9 000. The insurance total of R12 000 on 28 February 2023, the end of the financial year, included a premium of R3 000 that was paid for the period 01 August 2022 to 31 July 2023. Which of the following statements is correct? A. R1 750 was paid for the financial year ended 28 February 2024. B. R1 250 was paid in advance. C. The profit will decrease because of the adjustment entry. D. The insurance expense for the year ended 28 February 2023 amounts to R9 000