Prepare all the correct entries from Oct. 5, 2019 to Dec. 31, 2020.

Prepare year-end adjusting and closing entries.

Include also the correct entries for 2021.

Use the asset and liability method of accounting.

Thankyou in advance!!

108 Exercise 2-11 The following data were gathered from the notes receivable register of the PACIFIC COMPANY for 2019: Discount Discount Date of Note Face Value Interest Term Date Rate a. 10-5-19 P80,000 6%p.a. 200 days 10-31-19 15% b. 11-1-19 60,000 5%p.a. 1 year None None c. 12-1-19 100,000* 3%p.a. 2 years None None *Discounted by Pacific on Dec. 1, 2019 (president's loan). The other notes are from customers(old) to settle outstanding accounts. REQUIRED: 1. Determine the following for the three(3) notes: a. Principal b. Due dates c. Interest due at maturity d. Maturity value e. Holding period of the bank f. Discount by the bank (round to nearest whole peso) g. Proceeds h. Interest income(expense) from bank discounting 108 Exercise 2-11 The following data were gathered from the notes receivable register of the PACIFIC COMPANY for 2019: Discount Discount Date of Note Face Value Interest Term Date Rate a. 10-5-19 P80,000 6%p.a. 200 days 10-31-19 15% b. 11-1-19 60,000 5%p.a. 1 year None None c. 12-1-19 100,000* 3%p.a. 2 years None None *Discounted by Pacific on Dec. 1, 2019 (president's loan). The other notes are from customers(old) to settle outstanding accounts. REQUIRED: 1. Determine the following for the three(3) notes: a. Principal b. Due dates c. Interest due at maturity d. Maturity value e. Holding period of the bank f. Discount by the bank (round to nearest whole peso) g. Proceeds h. Interest income(expense) from bank discounting