Journal entries of donations received as

journal entries of donations received as a income and its treatment in profit and loss account!
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Quick Summary
This discussion covers how to account for donations received. It explains the correct journal entries to record donations as income, typically by debiting cash or bank and crediting donations. The focus is on ensuring these entries are properly reflected in the profit and loss account for accurate financial reporting.

Cash/bank dr
To donation

Only one side entry I e credit

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