The unadjusted trial balance of the E. Bibonia Company for December 31, 2020 follows:

Cash Accounts Receivable Prepaid Rent Cooking Supplies Land Building Accumulated Depreciation Building Cooking Equipment Accumulated Depreciation Cooking Equipment Notes Payable Accounts Payable Bibonia, Capital Bibonia, Withdrawals Gourmet Cooking Revenues Salaries Expense Travel Expense Advertising Expense Insurance Expense Utilities Expense Miscellaneous Expense

P504,000 789,000 144,000 357,000 530,000 1,250,000 870,000

240,000 619,000 127,000 215,000 40,000 102,000 46,000

P413,000 212,000 1,400,000 117,000 1,435,000 2,256,000

Totals P5,833,000 P5,833,000 Adjustment Data: 1. One-half of the prepaid rent has expired. 2. Cooking supplies on hand at year-end amounted to P25,000. 3. Depreciation on Building and on the cooking equipment amounted to P28,000 and P52,000, respectively. 4. Accrued salaries at year-end amounted to P27,000. 5. Interest amounting to P252,000 has accrued on notes payable. Interest on the note is paid every Jan. 1. The note matures on Jan. 1, 2021.