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Prepare the entry for liquidation of cash advance

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Question - Agency C grants cash advance to Mr. Traveler for traveling expense amount to P14,000 Mr. Traveler presented certificates of appearance for the travel completed along with the necessary documents to support the travel expenses P10,000; Mr. Traveler refunded the agency for the excess.

Required -

1. Prepare the entry for cash advance.

2. Prepare the entry for liquidation of cash advance.

Reference no: EM133144312

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