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 xx
xx
account
xx
Liability
xx
account
Asset account

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

xx
Cash - In xx
Local Treasury

To record deposit of
collections based on RCD

4.3.3 Collections received through the bank

thru bank Credit Memo

Account Title Dr. Cr.

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

To record collections
through the bank based on
RBDCM

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