Prepare the reversing entries to be recorded in the next accounting period

Note: Do not submit pic/image so I can easily copy paste

Entity A started operations on November 1, 20x1. The following were the transactions during the period: Nov. Transactions 1 Provided P100,000 cash as initial investment to the business. 1 1 Acquired equipment for P72,000 cash. The equipment has a useful life of 4 years. Entity A records depreciation expense only at year-end. Paid a one-year insurance premium of P24,000. (Use 'asset method') Purchased inventory costing P30,000 for cash. (Use periodic inventory system) 12 14 Sold goods for P30,000 cash. Dec. Transactions 1 Sold goods with sale price of P24,000 in exchange for a P24,000, 10%, one-year note receivable. Principal and interest are due at maturity. 5 Purchased inventory for P4,000 on account. 26 Sold goods for P34,000 on account. 27 Paid P2,000 account payable. 29 Collected P20,000 account receivable. Additional information: There is no beginning inventory. The ending inventory per physical count is P21,000. Entity A determines at year-end that accounts receivable of P2,000 is doubtful of collection. Salaries earned by employees during the period but were not yet paid amounted to P20,000