Yummy Foods Purchased a One-Year Hazard Insurance Policy on August $\quad 1,750$

Yummy Foods purchased a one-year hazard insurance policy on August 1 and recorded the $4,200 premium to prepaid insurance. At its December 31 year-end, Yummy Foods would record which of the following adjusting entries?

A) Insurance Expense $\quad 1,750$
Prepaid Insurance $\quad$ 1,750
B) Prepaid Insurance $\quad 1,750$
Insurance Expense $\quad$ 1,750
C) $$\begin{array} { l l r } \text { Insurance Expense } & 1,750 & \\\text { Prepaid Insurance } & 2,450 & \\\quad \text { Accounts Payable } & & 4,200\end{array}$$
D) Insurance Expense $\quad 2,450$
Prepaid Insurance $\quad$ 2,450