Statement of Financial Position December 31, 2017 Assets: Cash P40,000 Property, plant and equipment (net) P240,000 Other assets P200,000 Total assets P480, 000 Liab ilities and equity Current liabilities 240,000 Long-term debt 100, 000 Equity 140,000 Total liabilities and equity P480,000 Required: 1. Prepare journal entries to record interest of Bryant in the assets, liabilities and equity in BW. 2. Prepare journal entries to recordinterest of Wade in the assets, liabilities and equity in BW