Hi I need help on what is the answer for the 3 sets of adjusting entries. Below is the problem and in the comment section I will put the reference and other concerns. I hope that you can help me and surely I will give you a positive feedback

EXERCISES 1. Adjusting entries affect at least one statement of financial position account and one income statement account. For the following information, gathered as at December 31 identify the accounts affected and whether it is to be debited (Dr) or credited (Cr) and whether it is to be placed in the income statement (IS) or statement of financial position (SFP). The first entry is given as a guide: Account Titles Dr or Cr IS or SFP Debit IS 1. 8% one year bank loan of the Interest Expense Interest Payable Credit SFP company is dated July 15. 2. Telephone Bill is received from PLDT. 3. Prepaid insurance has expired. 4. Credit customer is declared insolvent. 5. Customer's 5% one year note is dated December 1. 6. Advance collection from tenant is already earned. 7. Equipment has a life of ten years. 2. Make theentries to record the following adjustments at the end of the accounting period: a) Accrued commission income of P10,000. b) Accrued utility expense of P5,000. C) Bad debts of P2,000 under the direct write-off method, d) Depreciation of equipment for P3,500. e) Used supplies of P350 under the asset method from total purchases of P500. f) Earned commission of P2,500 under the liability method if advance collection amounted to P3,000. 3. Refer to Exercise 2. a) How much will be the additional operating expenses? b) How much will be the additional revenues? 150