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What is the journal entry of bureau of plant industry

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Problem 1: During 2020, Bureau of Plant Industry transferred cash of P760,000 to Bureau of Agricultural Research for a fertilizer testing project. What is the journal entry of Bureau of Plant Industry to record the transfer of funds?

Option a. Cash-Treasury/ Agency Deposit/ Trust 760,000

Cash-Collecting Officers 760,000

Option b. Due from Bureau of Plant Industry 760,000

Cash-Modified Disbursement System, Regular 760,000

Option c. Due from Bureau of Plant Industry 760,000

Cash-Treasury/Agency Deposit/ Trust 760,000

Option d. Cash-Collecting Officers 760,000

Due to Bureau of Plant Industry 760,000

Reference no: EM132816051

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