Hello again. I need help on my ADJUSTMENT DATA PROVIDED on March 31 2017.

I can't arrived on a correct answers, for #1 I'm using simple interest I = PRT and also other form of getting interest rate. (",@) also wrong answer. the interest expense of 63.33. Please help me solve from # 1,4,5,6,7,8,10 for the 1st photo. kindly breakdown. thank you so much.

and this is the basis part

yes. are these ok?

Adjustment data provided on March 31, 2017 1. The note issued on March 12 was due on April 26, 2017 (use 360-day year) 2. Store supplies on hand, P200. 3. The insurance paid was intended for 5 months. 4. The building has a remaining estimated useful life of 8 years and salvage value ofP 50,000 5. Furniture will be depreciated at 2% per month. 6. The delivery equipment has an estimated scrap value of P1, 000 and useful life of 5 years 7. Accrued wages, P2, 000. 8. Unpaid utilities, P1,500. 9. P 30,000 worth of merchandise from the March 31 cash sales will be delivered on April 2, 2017 10. A physical count of merchandise inventory revealed P55, 000 worth still on hand. The adjusting entries for EBC Superstore are given below: EBC Superstore Adjusting Entries Date Account Titles Debit Credit 2017 Mar 31 1) Interest Expense P 63.33 Accrued Interest Expense P 63.33 2) Store Supplies Expense 800 Store Supplies 800 3) Insurance Expense 600 Prepaid Insurance 600 4) Depreciation-Building 1,562.50 Accumulated Depreciation-Building 1,562.50 5) Depreciation-Furniture 100 Accumulated Depreciation-Furniture 100 6) Depreciation-Delivery Equipment 150 Accumulated Depreciation-Delivery Equipment 150 7) Wages Expense 2,000 Accrued Wages Expense 2,000 8) Utilities Expense 1,500 Accrued Utilities Expense 1,500 9) Sales 30,000 Unearned Sales 30,000 10) Merchandise Inventory 55,000 Cost of Goods Sold 55,000 To set up the merchandise inventory, Illustrative Problem 8.1 Journalizing Merchandising Transactions Journalize the transactions of EBC Superstore for the month of March 2017using both the Periodic inventory system and the perpetual inventory system Mar 1 EBC invested P 500,000 cash and a piece of land with a building in a grocery business. The land and building are worth P 300,000 and P 200,000, respectively. The building will be used as the store. Mar 2 Bought for cash furniture, P5, 000 and store supplies, P1, 000. Mar 4 Purchased merchandise worth P 300,000, paying 1/3 and the balance on credit terms of 2/10, net eom. ule Fundamentals of Accounting Part 1 Accounting for Merchandising Operations 8 Returned defective merchandise worth P 10,000. Paid freight for the above purchases, P 5,500. Mar 5 Mar 6 Sold goods for cash, P 13,500 (cost, P 8,500) Mar 10 Sales: Cash, P25, 500; on credit P 16,800, terms. 2/10, n/30. (cost of goods sold (P24, 100) Mar 11 Received merchandise returned by the customer on credit on March 10, P 2000 (cost P1, 000). Mar 12 Bought delivery equipment worth P 10,000 on account. Issued a 12% 90. day note. Mar 13 Paid the amount due on March 4 Mar 15 Sales for the last five days: Cash P70, 000; on account P 25,000, (cost, P 60,000) iviai, 15 raiu ule alliuulil uue ull Marci! Mar 15 Sales for the last five days: Cash P70, 000; on account P 25,000, (cost, P 60,000) Mar 15 Paid wages of store helpers, P 5,000. Mar 16 Received delivered purchased merchandise worth P 50,000 on credit. Terms 2/10, n/30. Mar 17 The supplier on March 16 granted EBC an allowance of P500 for merchandise with minor defects but were not returned Mar 20 Cash Sales from March 16 to March 20, P 100,000 (cost, P 48,500) Collected the amount due on March 10. Mar 22 Paid the following expenses: insurance, P 3,000; advertising, P 1,000. Mar 23 Received 2 of the amount due from customers on March 15. Mar 26 Sales from March 21 to March 25, P 85,000, 10% of which is on account (cost, P 55,000) Mar 27 Received the full amount due on March 15. Mar 31 Sales from March 26 to Mar 31, P 150,000, 20% of which is on account where EBC received a 12%, 45-day note (cost, P115, 500) Mar 31 Paid the following: Salaries, P 6,000; Utilities, P 3,500. EBC Superstore journal Entries Account tes Journal Entries Account ttes Credit Mar 1 Cash P 500,000 Building 200,000 EBC, Capital P1,000,000 EBC, Capital 2 Furniture 2 Furniture Store Supplies Store Supplies Bought furniture and store supplies. Bought furni ture and store supplies 4 Purchases 4 Merchandise inventory 100,000 200,000 Accounts Payable Purchased merchandise Accounts Payable Purchased merchandise 5 Accounts Payable 5 Accounts Payable Purchase Returns and Allowances Merchandise inventory Returned merchandise to supplier Fre ght in Paid freight Returned merchandise to supplier Merchandise inventory Paid freight 6 Cash 13,500 Sold Merchandise Sold Merchandise 10 Cash Cost of Goods sold Accounts Receivable Merchandise inventory Sold Merchandise Accounts Receivable 11 sales Returns and Allowances Accounts Receivable Sold Merchandise Received returned merchandise. Cost of Goods sold 12 Delivery Equipment Merchandise inventory Notes Payable 11 sales Returns and Allowances Accounts Receivable Bought delivery equipment on account 13 Accounts Payable Received returned merchandise. Merchandise Inventory Purchase Discount Paid account on March 4 Cost of Goods Sold 15 Cash 12 Delivery Equipment Accounts Receivable Notes Payable Bought delivery equipment on account. Sold merchandise. 13 Accounts Payable 15 wages Expense Merchandise inventory Paid account on March 4. Paid wages of store helpers 16 Purchases Accounts Payable Purchased merchandise on account. Accounts Receivable Sold merchandise. Mar 17 Accounts Payable 500 Mar 15 Cost of Goods Sold Merchandise inventory 60,000 Purchase Returns and Allowances Allowance for unreturned merchandise. 500 wages Expense 5,000 Cash 20 Cash 100,000 Paid wages of store helpers 100,000 Sales Sold merchandise. 16 Merchandise Inventory 50,000 Accounts Payable Purchased merchandise on account 14,504 296 20 CAsh Accounts Payable 500 Sales Discount 500 Merchandise Inventory Allowance for unreturned merchandise Accounts Receivable Collection from customers on March 10 14,800 20 Cash 100,000 100,000 22 Prepaid insurance 3,000 1,000 Sald merchandise Advertising Expense Cash Paid insurance and advertising Cost of Goods Sold Merchandise Inventory 4,000 60,000 60,000 0 CAsh 23 Cash 12,500 Sales Discount 296 Accounts Receivable Partial collection of March 15 creditsales. ccouts Receivable Collection from customers an March 10 12,500 22 Prepaid insurance dvertising Expense 3,000 26 Cash 76,500 8,500 Accounts Receivable Cash paid insurance and advertising Sales Sold merchandise 85,000 23 Cash 2,500 Accounts Receivable Partial collection of March 15 credit sales 27 Cash 12,500 Accounts Receivable Collection of the March 15 balance 12,500 26 Cash 76,500 8,500 Accounts Raceivable ales 85,000 sald merchandise 31 CAsh 120,000 30,000 Notes Receivable Cost of Gaads Sold Sales 150,000 Merchandise inventory 55,000 Sold merchandise 27 Cash ACCOUNS Receivable Collection of the March 15 balance 12,300 6,000 3,500 31 Wages Expense Utilities Expense Cash Paid wages and utilities 9,500 31 CAsh 120,000 30,000 Notes Receivable 50,000 Sold merchandise Cost of Goods Sald 15,500 Merchandise inventory 115,500 31 wages Expense UGilities Expense ,500 Cash 9,500 Paid wages and utilites