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A private-purpose trust fund has been set up with a cash contribution of $500,000. What journa entry is needed to account for this transaction? Debit
A private-purpose trust fund has been set up with a cash contribution of $500,000. What journa entry is needed to account for this transaction? Debit Additions - Contributions, Credit Cash for $500,000 Debit Investments, Credit Additions - Contributions for $500,000 Debit Cash, Credit Additions - Contributions for $500,000 Debit Cash, Credit Additions - Investment Earnings for $500,000
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Financial & Managerial Accounting
Authors: Jan Williams, Sue Haka, Mark Bettner, Joseph Carcello
15th Edition
0073526991, 9780073526997
