On April 1, 2015, Miller Company Paid $6,280 for a Two-Year

On April 1, 2015, Miller Company paid $6,280 for a two-year insurance policy. On that date, Miller recorded the purchase by debiting Prepaid Insurance and crediting Cash. The correct December 31, 2015, adjusting entry would be

A) Prepaid Insurance 3,140 Insurance Expense 3,140
B) Insurance Expense 2,355 Prepaid Insurance 2,355
C) Prepaid Insurance 2,355 Insurance Expense 2,355
D) Insurance Expense 3,925 Prepaid Insurance 3,925