Prepayments in the amount of P400,000 is broken down into Prepaid Insurance of P100,000, Office Supplies Unused of P75,000 and Advance Rental and Deposit on Lease of P225,000. In the year 2017, Juliet Company purchased two insurance coverages, one for four (4) motor vehicles and the other one to cover the cost of the inventory against fire. The face value of the motor policy is P1.5 Million while that of the inventory is P4.5 Million. The coverage for both is a period of one year counting from the date the policy premium was paid for. The motor policy was taken August 1, 2017 for the premium of P25,000 while that of the inventory was taken last October 31, 2017 for a premium of P75,000. To be able to save on transportation costs, the purchasing manager of Juliet Company sees to it that office supplies are bought not from the regular bookstores but from the retailers of the same located in the City. They realized that this arrangement could lead to savings of around 30%. You asked for an inventory of the supplies as of December 31, 2017, and found out that P29,000 were still unused at year-end. In the year