E 223 Refer to Ezg and respond to the following requirements. Reversing Required: entries 1. If Microchip's accountant employed reversing entries for prepaid expenses, which ' transactions would be affected? Appendix 23 2. Prepare the original transactions creating the prepaid expenses and the adjusting entries at the end of suit} for the transactions you identied in requirement 1. 3. Prepare the appropriate reversing entries at the beginning of 101