Can you answer all these questions? Fan Company's unadjusted trial balance for the year ended December 31, 2019 showed a Rent Expense account of P8,920. This balance was related to an 8 month lease on a photography equipment. The lease started on December 1, 2019. In relation this, answer the following questions. 1. How much is the MONTHLY rent expense pertaining to this? 2. What method is being used by Fan Company to account for the rental? A. Expense method B. Liability method C. Asset method D. Revenue method 3. How many months of the rent was unused for the year ending 12.31.2019? 4. How much is the correct amount of rent expense for year 2019 related to the said transaction? 5. How many months of the advance rental has been consumed as of 12.31.19? 6. How much is the correct balance of the prepaid rent on 12.31.19? 7. What adjusting entry should be made on 12.31.19? Debit A. Cash B. Depreciation expense C. Photography equipment D. Prepaid rent E. Rent expense How much is the debit amount? Credit A. Cash B. Depreciation expense C. Photography equipment D. Prepaid rent E. Rent expense How much is the credit amount