Below are three independent and unrelated errors. a. On December 31, 2015, Wolfe-Bache Corporation failed to accrue office supplies expense of $1,350. In January 2016, when it received the bill from its supplier, Wolfe-Bache made the following entry Office supplies expense 1,350 Cash 1,350 b. On the last day of 2015, Midwest Importers received a $81,000 prepayment from a tenant for 2016 rent of a building. Midwest recorded the receipt as rent revenue. c. At the end of 2015, Dinkins-Lowery Corporation failed to accrue interest of $7,100 on a note receivable At the beginning of 2016, when the company received the cash, it was recorded as interest revenue. Required: For each error: 1. What would be the effect of each error on the income statement and the balance sheet in the 2015 financial statements? Error a Income Statement: Balance Sheet Error b Income Statement: Balance Sheet: Error C Income Statement: Balance Sheet 2. Prepare any journal entries each company should record in 2016 to correct the errors. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)