The trial balance of Diana Margallo, Interior Decorator, for December 31, 2021 appears below: Diana Margallo, Interior Decorator Trial Balance December 31, 2021 Cash Accounts Receivable Prepaid Rent Equipment P 186,000 71,200 19,200 177,500 Accumulated Depreciation - Equipment P 4,750 Accounts Payable Notes Payable Margallo, Capital Margallo, Drawings 18,750 12,000 300,000 19,000 Professional Fees 276,300 Salaries Expense 82,500. Supplies Expense 17,000 Utilities Expense 37,800 Interest Expense Totals 1,600 P 611,800 P 611,800 Additional data: Prepaid rent is for the period October 1, 2021 to May 31, 2022. Depreciation rate on the equipment is 5% per year. Scrap value of P35,000. Salaries incurred but unpaid as of December 31, P12,000. The note was issued on December 11 for 30 days at 12%. Provision for bad debt is 5% of the outstanding accounts of customers. Supplies on hand, P5,000.