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What are the correct journal entries for government accounting? 1.Recognized the government agency's share for the following contributions: a.Retirement and Life Insurance PremiumP 20,000 b.PAG-IBIG

What are the correct journal entries for government accounting?

1.Recognized the government agency's share for the following contributions:

a.Retirement and Life Insurance PremiumP 20,000

b.PAG-IBIG Contributions2,000

c.Philhealth Contributions1,500

2.Paid the respective agencies for the contributions in No. 1

3.Collected business income for Communications Network Fees of P40,000 and remitted 50% to National Treasury.

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