Problem 1. On October 1, 2019, Jovit Realty Co. collected the amount of P180,000 representing advanced rental from a tenant who occupies a space of the building. The advanced rental will cover the period from Oct. 1, 2019 to Oct. 1, 2020. The accounting period ends on December 31, 2019. Required-Prepare adjusting entry using: 1. Liability Method. 2. Income Method. Problem 2. On September 1, 2019, Todoroki Shoto, owner of Tagum Fitness Centre paid an advance rental on a space of the building it occupies in the amount of P84,000. This covers the period from September 1, 2019 to September 1, 2020 and the accounting period ends on December 31, 2019. Required-Prepare adjusting entry using: 1. Asset Method. 2. Expense Method