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On january 1, 2020, the department of agriculture (da) received a p10,000,000 appropriation from the national government for the acquisition of construction machinery. on february 1, 2020, da received the allotment from the department of budget and management. on march 1, 2020, da entered into a contract with entity a for the acquisition of the machinery with a price of p8,000,000. on april 1, 2020, da received the notice of cash allocation from department of budget and management net of 1% withholding tax for income tax supplier and 5% withholding of final tax on vat of supplier. on may 1, 2020, entity a delivered the machinery to da. on june 1, 2020, da paid the obligation to entity
a. on july 1, 2020, da remitted the withheld income tax and final vat at bir. what is the journal entry on july 1, 2020

Sagot :

Alejamielbanogonidn

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