During your observation of Ecovis' physical inventory you obtained the following cutoff information: the last receiving report number in 2020 is 2123. Following items are your findings during the audit: Date RR# Vendor Nandemount Descriptions Selection from December 2020 Purchase Journal None Marzar Ltd. $5,000 Audit fee for the year 2021 31/12 31/12 2122 Yetblue Ltd. $12,000 Raw materials used in manufacturing process Selection from January 2021 Purchase Journal 1/1 None King Win Co. $6,000 Payment for car rental fee for the period 1.11.2020-31.1.2021 1/1 None Viettel $1,000 December 2020 Telephone bill 2/1 2121 Chemical Ltd. $20,000 Chemicals purchased for manufacturing process Required a. For each of 5 items above consider whether there is evidence of proper cutoff of payables and accruals? Explain b. If the items is not properly recorded, prepare the necessary adjusting entries at December 31, 2020 During your observation of Ecovis' physical inventory you obtained the following cutoff information: the last receiving report number in 2020 is 2123. Following items are your findings during the audit: Date RR# Vendor Nandemount Descriptions Selection from December 2020 Purchase Journal None Marzar Ltd. $5,000 Audit fee for the year 2021 31/12 31/12 2122 Yetblue Ltd. $12,000 Raw materials used in manufacturing process Selection from January 2021 Purchase Journal 1/1 None King Win Co. $6,000 Payment for car rental fee for the period 1.11.2020-31.1.2021 1/1 None Viettel $1,000 December 2020 Telephone bill 2/1 2121 Chemical Ltd. $20,000 Chemicals purchased for manufacturing process Required a. For each of 5 items above consider whether there is evidence of proper cutoff of payables and accruals? Explain b. If the items is not properly recorded, prepare the necessary adjusting entries at December 31, 2020