Answered: You have DR Checking and CR Misc…

You have DR Checking and CR Misc Income. You realize it is not Misc Income but recieved from a donor. What is the entry made to redesignate the CR Misc Income as Ms. Smiths donation?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter16: Tax Research

Section: Chapter Questions

Problem 61DNC

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You have DR Checking and CR Misc Income. You realize it is not Misc Income but recieved from a donor.

What is the entry made to redesignate the CR Misc Income as Ms. Smiths donation?

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