Answer the following transactions.

1 accounting process - P1.docx : On December 31, 2020, the following data were accumulated to assist the accountant preparing the adjusting entries for Cobalt Repaid Shop a. Fees accrued but unbilled at December 31 are P9,560 The supplies on hand account balance on January 1 is P3150 Supplies purchased during the period amounted to P2,500. The supplies on hand at December 31 is P900 Wages accrued but not paid at December 31 is P1,200 The unearned rent account balance at December 31, 2020 is P9,375, representing recept of an advance payment on December 1 of three months' rent from tenant e. Prepaid Insurance has a balance of P12,000 paid on June 1, 2020 representing payment for 12 month period 1. The furniture costing P20,000 with a salvage value of P2,000 was bought on March 1. 2019. It has an estimated Ite of 5 years & Advertising Expense of $3,000 covers a 6-month period paid on September 1, 2020. On December 16, 2020. a 30-day, 16 note for P25.000 was received from a customer for a service rendered. i Accounts Receivable of P2.000 proved to be uncollectible and is to be written off The Accounts Receivable and Allowance for Bad Debt have balances of P180,000 and P3,000 respectively. The accountant maintains an allowance for doubtful accounts equal to 5% of the outstanding Accounts Receivable Prepare the adjusting entries for the year ended December 31, 2020