I need to know how to put them in debit and credit for: a n international childr

Question

I need to know how to put them in debit and credit for: an international children’s charity collects donations, which are used to buy clothing and toys for children in need. The charity records donations of cash and other items as Donations Revenue when received

Bought $6,200 worth of new toy supplies from a large toy manufacturer, paying $2,800 cash and signing a short-term note for $3,400.

I need to know how to put them in debit and credit for: an international children’s charity collects donations, which are used to buy clothing and toys for children in need. The charity records donations of cash and other items as Donations Revenue when received

Explanation / Answer

Journal Entries Sr No Account Title Dr$ Cr$ a Cash                  7,800 Donation Revenue                7,800 b Wages Expenses                  3,600 Cash                3,600 c Short Term Bank Loan                  1,400 Cash                1,400 d Supplies-Toys                  6,200 Cash                2,800 Notes-Payable                3,400 e Supplies-Toys                  2,600 Donation Revenue                2,600

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