Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=19)
-   -   Paid for local softball team sponsorship (which was a miscellaneous expense) (https://www.askmehelpdesk.com/showthread.php?t=747997)

  • May 8, 2013, 12:55 PM
    izayah12
    Paid for local softball team sponsorship (which was a miscellaneous expense)
    Paid for local softball team sponsorship (miscellaneous expense), $15
  • May 8, 2013, 12:56 PM
    izayah12
    Paid for local softball team sponsorship (miscellaneous expense), $15
    What transactions occurred?
  • May 8, 2013, 04:07 PM
    pready
    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.

  • All times are GMT -7. The time now is 09:50 AM.