you have been hired by Peters CAD, a small engineering and drafting firm, to help prepare set of financial statements for the bank for the financial year ending December 31. You have received all the transactions for the year and find the following information that has not been recorded in the company's books.

1.During December, Peters CAD provided $11,400 for CAD services to clients who will be billed in early January next year. The firm uses the account Fees Receivable to reflect amounts due but not yet billed.

2.The firm paid $12,000 cash on December 15 for a series of radio commercials to run during December and January. One-third of the commercials have aired by December 31^st. The $12,000 payment was recorded in the Prepaid Advertising account

3.Starting December 1, all maintenance work on Peters CAD's computer and printing equipment is handled by PC Guru under an agreement whereby Peters CAD pays a fixed monthly charge of $4,800. Peters CAD paid six months' services charges of $28,000 cash in advance on December 1 and increased its Prepaid expenses account by $28,000.

Prepare Accounting adjustments required at December 31^st for each of the above 3 adjustments using Journal entry format.