Use liability method in requirement 1 and expense method in requirement 2

On Sept. 1, 2020, Mary Cruz received a promissory note of P30,000 to support a loan she gave John Tapang. The note will run for six(6) months. Interest at 15% per annum was immediately deducted by May on Sept. 1. REQUIRED: 1. Prepare the entries of Mary Cruz on the following dates , assuming she uses the income method for pre-collections: a. Sept. 1, 2020 b. Dec. 31, 2020 (year-end) c. Jan. 1, 2021 d. March 1, 2021 2. Prepare the entries of John Tapang on the following dates (same as no. 1) assuming he uses the asset method for prepayments. re hoch