Question: What is the proper solution for these problems? Subject: Accounting Direction: Prepare adjusting entries for the following transactions. Show your computations (if applicable}. The company

What is the proper solution for these problems? Subject: Accounting

What is the proper solution for these problems?
Direction: Prepare adjusting entries for the following transactions. Show your computations (if applicable}. The company uses caiendar year in recording transactions. Beginning balance of Supplies was P34.500. At the end of December. supplies amounted to P4370. On October 2. wooden tables and chairs amounting to P25.000 was bought. Its life was estimated to be 10 years with salvage value of PLOOO. Compute for the depreciation to be recorded at the end of the year. Electricity bill was received on December 28 in the amount of H.890 and the due date is January 7 the following year. Prepare for the adjusting entry if the bill will be paid on due date. The company loaned an amount of PS0.000 with 12% annual interest on April 1. Compute for the accrued interest due for payment at the end of the year

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