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1. On December 31, 2020, Glare Company provided the following information: Accounts payable, including deposits and advances from customer of P250,000 1.250,000 Notes payable, including note payable to bank due on December 31, 2022 of P500,000 1,500,000 Share dividend payable 400.000 Credit balances in customers' accounts 200,000 Serial bonds payable in semiannual installment of P500,000 3,000,000 Accrued interest on bonds payable 150.000 Contested BIR tax amesement possible obligation 300,000 Unearned rent income 100.000 Required: Compute the total current liabilities on December 31, 2020. Sales 2. Miracle Company manufacturers a product that is packaged and sold. A plate is offered to customers sending in three wrappers accompanied by a remittance of P10. Data with respect to the premium offer are summarized below. 20:30 2021 3,600,000 4,200,000 Purchase of premium, P50 per plate 390,000 580,000 Number of plates distributed as premiums 5,000 Estimated number of plates to be distributed in subsequent period 2.000 3,000 Distribution cost P20 per plate Required: Prepare journal entries that would be made in 2020 and 2021 to record sales, premium purchases and redemptions, and year-end adjustments. 9,000 3. Cascade Company manufactures a special laundry soap A towel is offered as a premium to customers who send in two proof-of-purchase seals from the soap boxes and a remittance of P20. Distribution cost is P5 per towel. Data for the premium offer are 20:20 2021 Soap sales 2,500,000 3,125,000 Towel purchases, P100 per towel 175,000 200,000 Number of towels distributed a premium 1,000 1.800 Number of towels expected to be distributed in subsequent period 600 800 Required: 1. Prepare journal entries for 2020 and 2021. 2. Statement classification of the account balances pertaining to the premium plan