Activity 3: A. Given the following data, give the adjusting journal entries on December 31, 2018 under the ASSET METHOD and EXPENSE METHOD of recording prepayments. 1. Advance rent of P180,000 for 1 V2 year was paid on January 31,2018. 2. Of the P45,000 office supplies purchased, P15,000 remains unused as of December 31. B. Given the following data, give the adjusting journal entries on December 31, 2018 under the LIABILITY METHOD and INCOME METHOD of recording deferrals or unearned income. 1. Received P 240,000 on March 1, 2018 as advance rent for 2 years. 2. A piece of land was leased on X Corporation on May 1,2018. Mine Company received P576,000 representing one-year lease. C. Given the following cases, prepare the adjusting journal entries on December 31, 2019. 1. Electric bill received from MORE Power on December 28,2019 in the amount of P10,500 will be paid on January 5,2020