Answer the ff question and kindly explain.

Problem #10 Preparing Adjusting Entries at Year-End Prepare the adjusting entry for Christine Gamba Cargo under each of the following for the year ending Dec. 31, 2018: a. Paid P24,000 for a 1-year fire insurance policy to commence on Sept. 1. The amount of premium was debited to Prepaid Insurance. b. Borrowed P100,000 by issuing a 1-year note with 7% annual interest to Century Savings Bank on Oct. 1, 2018. c. Paid P160,000 cash to purchase a delivery van (surplus) on Jan. 1. The van was expected to have a 3-year life and a P10,000 salvage value. Depreciation is computed on a straight-line basis. d. Received an P18,000 cash advance for a contract to provide services in the future. The contract required a 1-year commitment, starting April 1. e. Purchased P6,400 of supplies on account. At year's end, P750 of supplies remained on hand. f. Invested P90,000 cash in a certificate of deposit that paid 4% annual interest. The certificate was acquired on May 1 and carried a 1-year term to maturity. g. . Paid P78,000 cash in advance on Sept. 1 for. a 1-year lease on office space