gov acctg - Jessa D Gorospe BSAC u2013 3 Chapter 15...

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Jessa D. Gorospe, BSAC – 3 Chapter 15: Miscellaneous Topics 1. Prepare the related entries on service concessions. Illustrative Accounting Entries on service concessions under Financial Liability Model Date Service Concession-Road Networks Service Concessions Arrangement Payable To recognize the service concession asset xx xx Date Interest Expenses Service Concession arrangement Payable To recognize finance charge prior to payment xx Xx Date Service Concession Arrangement Payable Cash-Modified Disbursement System (MDS), Regular To recognize payment of liability

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