Assuming that Mccphae Corporation has done each of the following in preparation for its fiscal year-end December 31, 2020 statements, and no adjustments or corrections were made except as noted, what would be the effect of each on: (a) total assets on December 31, 2020? (b) total liabilities on December 31, 2020? (c) owners equity on December 31, 2020? (d) cash on December 31, 2020? Circle U/S for understate, O/S for overstate, or NE for no effect. Treat each item independently and ignore income tax effects. 1. No entry for accrued interest on a note payable was made. The $60,000 note was issued on March 1, 2020 and accrues 8% interest annually. The interest will be paid on March 1, 2021. (a) total assets U/S O/S NE (b) total liabilities U/S O/S NE (c) owners equity U/S O/S NE (d) cash U/S O/S NE 2. Insurance of $6,000 was prepaid on November 1, 2020 for the six months beginning November 1 and recorded as Prepaid Insurance. On December 31, 2020, the following adjustment was made: Insurance Expense $2,000 Cash $2,000 (a) total assets U/S O/S NE (b) total liabilities U/S O/S NE (c) owners equity U/S O/S NE (d) cash U/S O/S NE 3. Employee wages of $100,000 were earned in December, but will be paid in January of 2021. No entry was recorded. (a) total assets U/S O/S NE (b) total liabilities U/S O/S NE (c) owners equity U/S O/S NE (d) cash U/S O/S NE 4. Depreciation of factory equipment for $200,000 was not recorded. (a) total assets U/S O/S NE (b) total liabilities U/S O/S NE (c) owners equity U/S O/S NE (d) cash U/S O/S NE