Problem: On January 17, 2021, received and paid the electric bill to Meralco amounting to P24,000 covering the period from Dec. 16, 2020 to Jan. 15, 2021. 1. Record the payment to Meralco on January 17, 2021: ts Dr. 1 Cr. 3 2 4 2. Record the adjusting entry on the accrual of utilities on December 31, 2020: S Dr. 5 Cr. 7 8 3. What is the account to be debited and the amount in the reversing entry on January 01, 2021 10 Dr. 9 INSTRUCTIONS: 1. Choose from the following accounts for the correct account of adjusting entries: Accounts payable Accrued payable Utilities expense 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, encod 3. For dates, if your answer is June 20, 2020, encode your answer as June 20