second picture is the continuation of question in number 4 from the first pic

space referred to in 3 above to a tenant for a monthly rental ii. Income method b. Provide the adjusting entries on December 31, 20x1 under 6. On August 1, 20x1, Entity C paid one-year insurance of P360,000. each of the methods listed above. 5. Requirements: a. Provide the journal entry to record the prepayment on August 1, 20x1 under each of the following methods: Asset method Expense method b. Provide the adjusting entries on December 31, 20x1 under each of the methods listed above. i. ii. 7. PROBLEM 3: ADJUSTING ENTRIES Your business uses a calendar year accounting period. The following were among your transactions during the year: 1. Your business issued a 14%, P300,000, one-year, note payable on April 1, 20xl. Both the principal and interest on the note are due at maturity date. What is the adjusting entry on December 31, 20x1? 27 2. Your business received billing of P32,000 on December 29, 20x1 for utilities used in December 20X1. Your business paid the bill on January 4, 20x2. What is the adjusting entry on December 31, 20x1? 3. Your business is renting a space for a monthly rental of 922,000. As of December 31, 20x1, your business has not yet paid the December rent. What is the adjusting entry on December 31, 20x1?int Rent paya 4. Your business is sub-leasing (renting out) a portion of the of P4,000. As of December 31, 20x1, the tenant has not yet paid the rent for the months of November and December. What is 267 Adinasting Entries the adjusting entry on December 31, 20x1? tortes Tent income's Verd