4.3 Illustrative Accounting Entries

The RCD and RBDCM shall be the bases in recording collections and deposits of the barangay. The following are the pro-forma entries for collections and deposits:

4.3.1 Collections in cash/check



Account Title Dr. Cr.

Cash - In Local Treasury
Income account
Liability account
Asset account
xx




xx
xx
xx

To record collections based on Report of Collections and Deposits



4.3.2 Deposit of collections with AGDB


Account Title Dr. Cr.

Cash in Bank- LCCA
Cash - In Local Treasury
xx

xx

To record deposit of collections based on RCD



4.3.3 Collections received through the bank thru bank Credit Memo


Account Title Dr. Cr.

Cash in Bank- LCCA
Internal Revenue Collections
Real Property Tax
Income Accounts
xx




xx
xx
xx

To record collections through the bank based on RBDCM



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