Zion Company purchased a five-year insurance policy for its building on April 1. 20X1 for $120.000 and debited it to an asset account. Assuming that April 1 is the effective date of the policy, the adjusting entry on December 31, 20X1 is * O DR Insurance Expense. 24,000 CR Prepaid Insurance. 24,000 DR Prepaid Insurance.. 18,000 CR Insurance Expense... 218,000 O DR Insurance Expense... $18,000 CR Prepaid Insurance. 18,000 DR Insurance Expense... $90,000 CR Prepaid Insurance. $90,000