On August 1, 2010, Green Company Paid $4, 320 for a Three-Year

On August 1, 2010, Green Company paid $4, 320 for a three-year insurance policy.On that date, an expense account was charged.In the adjusting entry on December 31, 2010, there would be a

A) debit to Insurance Expense for $600
B) credit to Prepaid Insurance for $600
C) credit to Prepaid Insurance for $480
D) credit to Insurance Expense for $3, 720