Give the adjusting journal entries on December 31, 2020 under the asset method and expense method. Date Transaction Asset Method Expense Method 4,000 Jan. 31 Bought office supplies P16,000. One-fourth remained unused at year-end. Mar. 15 Paid 3-year insurance premium P72,000. Oct. 31 Paid 2 years rent in advance P192,000 Give the adjusting journal entries on December 31, 2020 under the liability method and revenue method. Date Transaction Liability Method Revenue Method Mar. 1 Received 2-year rent in advance P48,000 Aug. 31 Received P3,600 in interest for an 8- month P72,000 notes receivable