Use the following to answer questions 15-16 On December 1st, the company pays a local radio station $75,000 for 3 months of racio ads that are to be aired equally throughout December through February. Prepaid Advertising was debited on December 1st and no other entries regarding this transaction were made since then, 15.5 After the adjusting entry has been recorded on December 314, determine the amount of advertising expense for the year ended December 31 16. $ After the adjusting entry has been recorded on December 31, determine the ending balance in the prepaid advertising account that should be recorded on the December 31" Balance Sheet Use the following transactions to answer questions 17-19 Determine the amount of revenue or expense that would be reported at the time of the transaction under the two methods. An example transaction has been completed for you. Example: Purchased office supplies for cash, S440 Transaction Accrual basis Revenue Expense Cash-basis Revenue Expense SO $0 SO $440 example Purchased office supplies for cash, $440 (no accrued expense, hasn't been used yet.cash flowed for the operating cost so it's a cash expense) 17. Received cash $1,000 from customers for services performed last month. Pay $700 for equipment rent for one year 18. in advance Incurred $12.000 costs for employee 19. salaries in the current month but have not paid yet