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    raj80's Avatar
    raj80 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 13, 2009, 10:35 AM
    Spending donation on asset purchase
    Journal entry for Donation received as cash and use of that money to purchase an asset
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
    Ultra Member
    		  
    #2

    Sep 15, 2009, 09:14 PM

    DEBIT Asset Account
    CREDIT Cash Account.

    Being Donation received as cash and use of that money to purchase an asset
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