Question
On September 1, 2018, P10M donation is deposited directly by the United Nations World Health Organization to the Bureau of Treasury. What is the journal
On September 1, 2018, P10M donation is deposited directly by the United Nations World Health Organization to the Bureau of Treasury. What is the journal entry to record the receipt of grants or donation from UN-WHO?
a.Debit Cash in Bank, Foreign Currency Savings Deposit and Credit Income from Grants and Donations by P10M.
b.Debit Cash Collecting Officer and Credit Income from Grants and Donations by P10M
c.Debit Cash in Bank, Foreign Currency Savings Deposit and Credit Loans Payable by 10M
d.Debit Cash Collecting Officer and Credit Ordinary Share, UN-WHO by P10M.
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