For each of the following separate situations, determine the amount of expense each company should recognize in December (using accrual basis accounting). a. Chipotle has monthly wages expense of $5,200 that has been incurred but not paid as of December 31 b. United Airlines purchases a 24-month insurance policy for $78,000 on December 1 for immediate coverage. c On December 15, Pfizer prepays $40,000 for hotel rooms for its annual sales meeting in January Expenses a b. Situations Wagos expense incurred but not paid Purchases a 24-month insurance policy c. Propays for hotel rooms for da annunt sales meeting