Prepare the adjusting entry for each of the following for year ended December 31, 2020. 1. Purchased P 9,000 supplies at the beginning of the year. Supplies used for theyear amounted to Php 5,300.00. Use the Asset Method. (5 points) 2. Bought P 40,000.00 equipment with five-year estimated life and salvage valueof P5,000.00. Depreciated is computed on a straight line basis. (10 points ) 3. Received P 72,000.00 cash advance from a customer for one year services toberendered starting June 1, 2020. The amount was credited to Unearned Service Income (5 points) 4. Received an 18 % P 100,000.00 note on April 1,2020. Interest will be paid together with the Principal on maturity date. ( 5 points) 5. Paid one year rent in the amount of P 144,000.00 to commence October 1, 2020. The amount of premium was debited to Rent Expense. (5 points) Prepare the adjusting entry for each of the following for year ended December 31, 2020. 1.) Received P 63,000 cash advance from a customer forone year services to be rendered starting June 1,2020. The amount was credited to Unearned Service Income. 2.) Paid one year rent in the amount of P 180,000.00 to commence August 31,2020. The amount of premium was debited to Prepaid Rent. 3.) Purchased P 5,900.00 supplies at the beginning of the year. Supplies used for theyear amounted to P 1,750.00.Use the asset Method. 4.) Received an 18% P 120,000 note on May 1, 2020. Interest will be paid together with the principal on maturity date. 5.) Bought P 42,000 equipment with five-year estimated life and a salvage valueof P3,000. Depreciation method is computed on a straight line basis. 6.) Accounts receivable has a balance of P 50,000. It is estimated that 5%of this isuncollectible.