Which of the following is the proper adjusting entry, based on a prepaid insurance account balance before adjustment of $12,543 and unexpired insurance of $3,967, for the fiscal year ending on April 30? O a. debit Insurance Expense, $8,576; credit Prepaid Insurance, $8,576 O b. debit Insurance Expense, $12,543, credit Prepaid Insurance, $12,543 O c. debit Insurance Expense, $3,967; credit Prepaid Insurance, $3,967 Od. debit Prepaid Insurance, $8,576; credit Insurance Expense, $8,576

Which of the following is the proper adjusting entry, based on a prepaid insurance account balance before adjustment of $12,543 and unexpired insurance of $3,967, for the fiscal year ending on April 30 ? a. debit Insurance lispense, 56.576 , credit Propaid Insuranct, 58,576 b. debis limurance Expenie. 512.540, credit Prepeid havariset, 512.543 5. debit insurence Fupense, 53,567, ardit Frepaid Insuraoch, 53.96