Exercise 22 Records of the equipment purchased by Sinta Company showed: Useful life in years Items Qty. Scrap Value Cost/ Unit 4 Computer Aircon Airfan (2) (1) (3) 6 Date Acquired Sept. 1, 2018 Mar. 1, 2018 Feb. 1, 2017 P29,000 10,000 1,500 P5,000 3,000 300 6 Direction: a) Adjusting entries on December 31, 2018 b) Financial position presentation as of December 31, 2018. Exercise 23 Using the data in No. 22 above, give the adjusting entries and the financial position presentation if the accounting period ends on December 31, 2019