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What is the adjusting entry

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Question - AAMI Ltd Prepaid Insurance account shows a balance of $3900, representing 3 year insurance premium paid on 01/02/20XX. What is the adjusting entry as at 30/06/20XX?

Insurance Expense Dr 541.67  Prepaid Insurance Cr 541.67

Prepaid Insurance Dr 541.67  Insurance Cr 541.67

Prepaid Insurance Dr 541.67  Insurance Expense Cr 541.67

Insurance Expense Dr 1300.00  Prepaid Insurance Cr 1300.00

Reference no: EM133163268

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