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Give the necessary entries to be made by dfa

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The Department of Foreign Affairs (DFA) collected P10,000,000 revenue from passport and visa applications for March 20X2. The said amount was then deposited in an authorized servicing bank. Moreover, in the same month, the DFA received a P5,000,000 cash disbursement ceiling (CDC) and paid its rental of P600,000.

Required:

Problem 1: Give the necessary entries to be made by DFA from the above scenario.

Reference no: EM132842551

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