The January 1, 2019, Balance in the Prepaid Insurance Account $$\begin{array} { | r | r | } \hline \text { Pr. Insurance Expense } & 1,575 \\\hline \text { Cr. Prepaid Insurance } & 1,575 \\\hline\end{array}$$

The January 1, 2019, balance in the Prepaid Insurance account was $3,150 and represented the unexpired portion of a two-year policy purchased October 1, 2018. What is the required year-end adjusting journal entry on December 31, 2019?

A) $$\begin{array} { | r | r | } \hline \text { Pr. Insurance Expense } & 1,575 \\\hline \text { Cr. Prepaid Insurance } & 1,575 \\\hline\end{array}$$
B) $$\begin{array} { | c | c | } \hline \text { Pr. Insurance Expense } & 1,800 \\\hline \text { Cr. Prepaid Insurance } & 1,800 \\\hline\end{array}$$
C) $$\begin{array} { | c | c | } \hline \text { Dr. Prepaid Insurance } & 1,575 \\\hline \text { Cr. Insurance } & 1,575 \\ \text { Expense } & \\\hline\end{array}$$
D) $$\begin{array} { | c | l | } \hline \text { Dr. Prepaid Insurance } & 3,150 \\\hline \text { Cr. Insurance } & \\\text { Expense } & 3,150 \\\hline\end{array}$$