Your business has the following transaction during the year. Provide the necessary adjusting entries for the year ending December 31, 2019. Your business issued a 14%, P 1,200,000, one-year note payable on April 1, 2019. Principal and interest are due at maturity date. Your business received a billing of 64,000 on December 29, 2019 for renewal of insurances in the business. Your business paid the bill on January 4, 2020. Your business is leasing a space for a monthly rental of P 11,000. As of December 31, 2019, your business has not yet paid the rent. Your business is sub-leasing(renting-out) a portion of the space referred to in # 3 above to a tenant for a monthly rental of P 2,000. As of December 31, 2019, the tenant has not et paid the rent for the months of November and December. Your business has a total accounts receivable of P 1,600,000 as of December 31, 2019. Of that amount, 5% is doubtful if collection and should be expensed. Your business acquired a building on May 1, 2019 for a total cost of P10,000.000. the building has an estimated useful life of 20 years. Your business records depreciation only at year-end. Your business collected royalty income of P 360,000 in advance on November 1. 2019. As of December 31. 2019, P 280,000 of the advances collection is earned. Provide the entry upon collection using the (a.) liability method (b) Income Method) Provide the adjusting entries in December 31, 2019 under each of the methods listed above. Your business paid one-year TV advertisement of P1,080,000 on October 31, 2019. Provide the entry upon paymeny using the (a) Asset method (b) Expense Method. Provide the adjusting entries in December 31 under each method.