1. J Services purchased on January 1, 2015 office supplies worth P9,500. At the end of the accounting period P4,750 worth of supplies were used. A. Using the Asset method the initial entry and the adjusting entry (2 pts. each) B. Using the Expense method the initial entry and adjusting entry (2pts. each) 2. J Services received cash in advance on January 1, 2015, P100,000. The amount is received from Mr. Monte. The business rendered service to Mr. Monte in the amount of P64,000. The remaining amount will be next year. A. Using the Income method the initial and adjusting entry (2 pts. each) B. Using the Liability method the initial and adjusting entry (2 pts. each) 3. On January 31, 2015, J Services paid the insurance for 1 year in the amount of P12,000. A. Using the Asset method the initial entry and the adjusting entry (2 pts. each) B. Using the Expense method the initial entry and adjusting entry (2pts. each) 4. J Service used a calendar period of for its reporting purposes. At the end of the period the following information were gathered in order to facilitate the adjustments: A. Unrecorded accounts from suppliers, P5,000 (supplies expense) B. Interest due from the bank loan. Borrow last September 30, 2015, P100,000, 12%, p.a. C. Unrecorded income from customer for the service rendered, P3,000. D. Unpaid salaries for the month of December. 2 assistant P4.000 each 1 guard 3,500 E. Interest earned but not yet collected, P2,500. What is the adjusting entry to be made in the above information given. (2 pts.) each