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Hi there,
My bookkeeping client wants to account for services that she received for free. One of her yoga teachers taught a class and did not want to get paid and does not want to get paid in the future also, but my client wants to instead donate what the teacher will not accept. What should I be recording? I was thinking to do a journal entry to debit labor expense and credit a donations owed account. Thank you.
My bookkeeping client wants to account for services that she received for free. One of her yoga teachers taught a class and did not want to get paid and does not want to get paid in the future also, but my client wants to instead donate what the teacher will not accept. What should I be recording? I was thinking to do a journal entry to debit labor expense and credit a donations owed account. Thank you.