Presented below is the unadjusted trial balance of Rich Brook Travel Agency for the period ended February $28,$

$2018$:

Information pertaining to Brook's Account is as follows:

a$)$ Unrecorded revenues earned but not yet collected amounted to $P_{23,500}.$

b$)$ Brook estimated that $5\%$ of the outstanding accounts receivable is uncollectible.

c$)$ On November $1,2017,$ Brook paid Sherlock Holmes Realtors $P_{360,000}$ for $9$ months' rent on the

office building commencing that date.

d$)$ Depreciation for the furniture is $P_{135,000}$ and Depreciation for the Office Equipment is $8,500.$

e$)$ As of February $28,2018,$ unpaid salaries worth $98,000$ is not yet recorded.

f$)$ The $P_{900,000}$ note payable was issued on October $1,2017.$ It will be repaid in $12$ months

together with interest at an annual rate of $25\%.$

Required:

Prepare the adjusting entries and complete the so$-$column worksheet.

Prepare the income statement, statement of changes in equity, and balance sheet.

Bonus: Prepare the closing entries.