Hi I need help on what is the answer for the set 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

1 1. International Ads handles the advertising and promotion of various clients offering a credit term of 180 days. Its unadjusted trial balance on December 31, 2017, end of its first year of operation, showed among others: Accounts Receivable, P1,250,000 and Professional Fees, P4,550,000. As it was only its first year of operation, management decided to forego recording of doubtful account. Among its transactions for the year 2018 are the following: a) Professional services rendered on account, P5,500,000. b) Total collection of previous and current accounts, P3,500,000. The accountant adopted a policy of providing for doubtful accounts based on 3% of the outstanding accounts receivable at the end of 2018. Instructions: a. Make entries to record the transactions for the years 2017 and 2018. b. Make three ledger accounts for Accounts Receivable, Allowance for Doubtful Accounts and Doubtful Accounts Expense. Post the entries made in requirement a. 152