Answer all questions please

Prepare an adjusting entries in the following transactions. Use the table in Page 5 as your guide in writing your entries. Activity 1: Accrued income and Accrued expense 1. MVN Building leases out an office space for P17,000 per month. As of December 31, 2019 the tenant has not yet paid for 3 months. (Apply the Accrued income) 2019 Dec 31 Recognition of accrued rent *17,000 x 3 months Account Titles: Rent Receivables, Rent Income 2. ABC company is authorized to sell products with a 10% commission benefit. Sales made in December 2019 totaled P 150,000 and the company has not received yet its commission (Apply the Accrued income) 2019 Dec. 31 Recognition of accrued commission *P150,000 X 10% Account Titles: Commission Receivable, Commission Income 3. The company's electricity consumption for the month of December 2019 amounting to P8,000 is not yet paid. (Apply the accrued expense) 2019 Dec. 31 Recognition of accrued utility Account Titles: Utility Payable, Utility Expense 4. Unpaid real property taxes as of December 31, 2019 amounted to 14,500. (Apply the accrued expense) 2019 Dec. 31 Unpaid real property tax Account Titles: Tax and License Payable, Tax & License Expense 5. On September 1, 2016, TLC Company received from a tenant an advance rent payment of P300,000 representing 10 months rent. (Apply the liability Method) Journal Entry 2016 Cash P 300, Sept. 1 Unearned Rent 000 P 300, Advance receipt of rent payment 000 Adjusting Entry 2016 Dec. 31 Adjustment to unearned rent 300,000/10 months = 30,000 per month x 4 months Income Account Titles: Unearned Rent, Rent 6. Using the same transaction, apply the revenue method. Journal Entry 2016 Cash Sept. 1 Rent Income 000 Advance receipt of rent payment P 300, P 300, 000 Adjusting Entry 2016 Dec. 31 Adjustment to rent income *300,000/10 months = 30,000 per month x 6 months = Income Account Titles: Unearned Rent, Rent Activity 3: Prepaid Expense - Asset and Expense Method 7. On August 15, 2018, KMJ Solutions purchased office supplies for cash, P80,000. At the end of the year, record shows that 30% worth of supplies have been used. (Apply the Asset Method) Journal Entry 2018 Office supplies P 80,000 Aug 15 Cash P 80 Purchase of Prepaid items 000 Adjusting Entry 2018 Dec 31 Adjustment to prepaid supplies Account Titles: Office Supplies, Office Supplies expense 8. Same Transaction (No. 7) apply the Expense Method. Journal Entry 2018 Office supplies expense P 80,000 Aug 15 Cash Purchase of Prepaid Items P 80 000 Fundamentals of Accountancy Business and Management 1 Adjusting Entry 2018 Dec. 31 Adjustment to supplies expense Account Titles: Office Supplies, Office Supplies expense