please show all steps so I fully understand how to solve. Thank you

On October 31, 20x2 Cooper Limited purchased a $6363, 2.5 year insurance policy for their automobile. The accountant debited the full amount to prepaid insurance. Now, at year-end December 31, 20x2. the following adjustment is required: Select one: o a. A credit of $ 424 to prepaid insurance and a debit to insurance expense o b. A debit of $ 424 to prepaid insurance and a credit to insurance expense 0 C. A credit of $ 1060 to insurance expense and a debit to prepaid insurance O d. A credit of $ 636 to prepaid insurance and a debit to insurance expense Check