Education
External Scholarship Applied to Student Account
Applying a scholarship received from a government agency or private foundation to a student's tuition balance.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash in Bank (Scholarship Funds) | Asset (+) | 2,000.00 | - |
| Student Accounts Receivable | Asset (-) | - | 2,000.00 |
💡 Accountant's Note
External scholarship money received on behalf of a student clears their receivable. The funds belong to the student — the school acts as a conduit collecting on their behalf.
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