Debit Credit 59,200.00 24,000.00 2,000.00 120,000.00 8,500.00 7,300.00 1,150,000.00 300,000.00 300,000.00 14,000.00 Cash Accounts receivable Allowance for doubtful accounts Notes receivable Interest receivable Tires and tube inventory Gas and oil inventory Prepaid insurance Transportation equipment Accumulated depreciation - TE Office equipment Accumulated depreciation - OE Accounts payable Accrued salaries expense Unearned rental income Unearned commissions income Labasan, capital Labasan, drawings Rental income Commissions income Interest income Gasoline and oil expense Taxes and licenses expense Depreciation expense Doubtful accounts expense Tires and tube expense Salaries expense Insurance expense Repairs and maintenance 10,000.00 1,142,000.00 10,000.00 365,000.00 50,000.00 51,000.00 15,000.00 132,000.00 6.000.00 1,883,000.00 1,883,000.00 M. Inventory of gas and oil at December 31, 2021 total P1,500. 1. What was the entry made when the gas and oil were purchased? 2. What is the amount of the unused gas and oil at December 31, 2021? 3. What is the amount of the gas and oil used in the year 2021? 4. What account must be recognized (increased) and at what amount? 5. Prepare the necessary adjusting entry. 6. Can the above entry be reversed? (Yes or No) N. The total commissions earned during the period is only P45,000. 1. What was the entry made by La Guardia upon collection commissions? 2. Of the total amount collected in advance, how much is unearned at December 31, 2021? 3. Of the total amount collected in advance, how much was earned in 2021? 4. What account must be recognized (increased) and at what amount? 5. Prepare the necessary adjusting entry. 6. Can the above entry be reversed? (Yes or No) 0. On December 31, 2021, commissions totaling P4,800, were still unearned. 1. What was the entry made by La Guardia upon collection commissions? 2. Of the total amount collected in advance, how much is unearned at December 31, 2021? 3. Of the total amount collected in advance, how much was earned in 2021? 4. What account must be recognized (increased) and at what amount? 5. Prepare the necessary adjusting entry. 6. Can the above entry be reversed? (Yes or No)