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izayah12
May 8, 2013, 12:55 PM
Paid for local softball team sponsorship (miscellaneous expense), $15

izayah12
May 8, 2013, 12:56 PM
Paid for local softball team sponsorship (miscellaneous expense), $15
What transactions occurred?

pready
May 8, 2013, 04:07 PM
You paid means that cash went out and the other part is given to you. It is Misc Expense.

So your journal entry will be:
Debit Misc Expense and Credit Cash for 15.