Hi GABOTAF.
Scenario:
MDS check was Issued on January) but was cancelled later on February.
1.) Do I need to make another DV for the replacement of MDS check? Or just make an adjustment in General Journal for the replacement of Check?
2.) Will the amount be credited back to our MDS account? Savings Account? Or is it considered lapsed NCA?
3.) If the MDS Check is recorded on MRD January, do I have to record the replacement check on MRD February?
4.) FOR THE MONTH OF JANUARY:
Dr. Electricity Expense XX
Cr. Cash MDS XX
FOR THE MONTH OF FEBRUARY:
Dr. Cash MDS XX
Cr. AP XX
Dr. AP XX
Cr. CASH MDS XX
Dr. SUBSIDY FROM NGA XX
Cr. CASH MDS XX
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