Reference no: EM132816051
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