Required Information [The following Information applies to the questions displayed below.] Mobo, a wireless phone carrier, completed its first year of operations on October 31. All of the year's entries have been recorded, except for the following: a. At year-end, employees earned wages of $7,200, which will be paid on the next payroll date, November 6. b. At year-end, the company had earned interest revenue of $4,200. It will be collected December 1. 2. Identify whether each required adjustment is a deferral or an accrual. (Check all that apply.) Check All That Apply Both transactions are accruals Both transactions are deferral First transaction accrual First transaction is deferral Second transaction is accrual Second transaction is deferral