Adjust the following:

1. Unpaid taxes P 600

2. Accrued Salaries, P3,000

3. Accrued Interest on Notes Payable P 200

4. Unpaid light and water, P 500

5. Supplies on hand, P 1,000

6. Bad debt expense is estimated to be 5% of Accounts Receivable.

7. Fixed assets have an estimated useful life of 10 years without scrap value.

8. Accrued interest on notes receivable, P120.