For each of the following separate cases. prepare adjusting entries required for financial statements for the Exercise 3-4 year ended (date of) December 31, 2015. (Assume that prepaid expenses are initially recorded in asset Preparing adjusting accounts and that fees collected in advance of work are initially recorded as liabilities.) entries a. One-third of the work related to $15,000 cash received in advance is performed this period. P1 b. Wages of $8,000 are earned by workers but not paid as of December 31, 2015. c. Depreciation on the company's equipment for 2015 is $18,000