From the following selected balances and additional information, prepare the adjusting entries at the end of the fiscal year May 31: Debit Credit Accounts Receivable 18% Notes Receivable Supplies Furniture & Fixtures Service Fee Revenues Jtilities Expense P120,000 100,000 4,500 72,500 16,000 a. Bad accounts are estimated to be doubtful at 5% of the accounts receivable. b. The customer's note is for 60 days, dated May 16. 1,750,000 c. Used supplies amounted to P500. d. Estimated residual value of furniture and fixtures is P8,500 with a useful life of 10 Date years. Acquisition date was March 1. e. Bills for May received from PLDT P2,500 and from Meralco P6,000 on June S. Particulars Credit Debit