Problem 10-7 and 10-8. With clear formatting and explanation please. ASAP. Thank you

Problem.10-8 (AICPA Adapted) Myriad Company revealed the following purchase transactions occurred during the last few days of the fiscal that date. year, which ends December 31, and in the first few days after 1. An invoice for P50,000, FOB shipping point, was received and recorded on December 27. The shipment was received in satisfactory condition on January 2. The merchandise was not included in the inventory. 2. An invoice for P75,000, FOB destination, was received and recorded on December 28. The shipment was received in satisfactory condition on January 3. The merchandise was not included in the inventory. 3. An invoice for P30,000, FOB shipping point, was received and recorded on January 4. The invoice shows that the goods had been shipped on December 28 and the receiving report indicates that the goods had been received on January 4. The merchandise was excluded from inventory. 4. An invoice for P90,000, FOB shipping point, was received on December 15. The receiving report indicates that the goods were received on December 18 but across the face of the report is the notation "merchandise not of the saine quality as ordered - returned for credit, December 19". The merchandise was included in the inventory. 5. An invoice for P140,000, FOB destination, was received and recorded on January 4. The receiving report indicates that the goods were received on December 29. The merchandise was included in inventory. Required: Prepare the adjustments on December 31. Books are still open.Problem 10-7 (LAA) Fall Company began operations in the current year. The entity used perpetual inventory system. 1. During the year, Fall Company purchased merchandise having a gross invoice cost of P1,000,000. All purchases were made under the terms 2/10, n /30, FOB destination. 2. Fall Company paid freight charge of P50,000. 3. During the year, Fall Company paid for 80% of the merchandise within the discount period. 4. The remaining 20% was paid beyond the discount period. 5. Fall Company sold 70% of the merchandise it acquired for cash of P1,200,000. The other 30% remained in inventory at year-end. Required: Prepare journal entries to record the transactions using gross method and net method