Nonprofit accounting journal entry

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Stephanie Colorado

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my nonprofit is hosting a 5k. We solicit and receive gift certificates from business in exchange for businesses receiving acknowledgement on our race website page as a prize sponsor. These prizes will be given to the top 3 finishers and the rest will be given out as raffle prizes to any participating racer. Each person who pays the registration fee to participate in the 5k will be given a free raffle ticket.
How do I enter the prizes received and given out as an accounting journal entry?
 
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