On January 15, 2015, the company entered into an 18-month insurance contract.

The contract involves the

payment of P29,700 on the same day.

On February 1, 2015, the company purchased an equipment costing P136,800 with an estimated useful life of
two years and no salvage value.

On April 30, 2015, the company received P29,250 from a tenant which represents ten months worth of rent
paid in advance.

On June 1, 2015, the company purchased a delivery vehicle for P62,600 which is expected to be used for one
year, after which it could be sold for P5,000.

On September 30, 2015, the company decided to enter an advertising agreement which is to pay P12,600 on
said date which covers a six-month period.

On November 16, 2015, the company received three notes from customers for services rendered: a 6% 150-
day note for services worth P50,000; A 150-day for services worth P25,000; and a 6% 5-month note for
services worth P50,000.

On December 1, 2015, the company issued a 9% 60-day note for legal services incurred amounting to P10,000.

Required:
Prepare all entries, including adjusting and reversing entries for every period assuming the company uses:
A. A calendar year
a.1 Using the asset method and expense method for prepaid expenses.
a.2 Using the liability and income method for unearned income.
B. A fiscal year ending January 31
b.1 Using the asset method and expense method for prepaid expenses.
b.2 Using the liability and income method for unearned income.
C. A fiscal year ending March 31
c.1 Using the asset method and expense method for prepaid expenses.
c.2 Using the liability and income method for unearned income.