Problem: ABC Company purchased store supplies on November 9, 2020 amounting to P20,000. The accountant is using the Asset method. On December 31, when the company was preparing its year-end financial statements, the store supplies on hand is P4,500. Determine the following: 1. What is the account to be debited on November 09, 2020? 2. What is the account to be credited on the adjusting entry on December 31, 2020? 3. How much is the amount to be debited on December 31, 2020? INSTRUCTIONS: 1. Choose from the following accounts for the journal entries: Store supplies Store supplies expense Cash 2. For the amounts of debit and credit, encode your answer in whole number without decimal places, no comma and peso sign (eg. if your answer is 4,000, encode it as 4000).