Consider the following situations for Smiley Construction Co. at December 31: Depreciation for the current year includes equipment, $4,600. Each Monday, Smiley pays employees for the previous week's work. The amount of weekly payroll is $ 20,000 for a five-day week (Monday to Friday). This year, December 31 falls on a Wednesday. a. b. REQUIREMENTS Prepare the required adjusting entry required for each situation a and b