A not-for-profit entity receives a computer as a donation (valued at $2,000). Prepare the journal entry...

Question

Question

A not-for-profit entity receives a computer as a donation (valued at $2,000). Prepare the journal entry for the transaction.

business accounting

Answer 1

Answer #1

Date	Title	Debit	Credit
	Computer	$ 2,000
	Donation income		$ 2,000
	(To record receipt of computer as donation)

Answer 2

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