Education
Field Trip Fee Collection
Recording cash collected from students for an upcoming trip.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash | Asset (+) | 15.00 | - |
| Deferred Field Trip Revenue | Liability (+) | - | 15.00 |
💡 Accountant's Note
Fees collected for a specific trip are a liability until the trip actually takes place, at which point revenue and expenses are recognized.
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