Education
Student Fines (Lab Breakage / Library)
Recording revenue from penalties charged to students for damaged or late items.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Student Account Receivable | Asset (+) | 25.00 | - |
| Other Operating Revenue (Fines) | Revenue (+) | - | 25.00 |
💡 Accountant's Note
Fines are recognized as revenue at the moment the penalty is assessed to the student's account.
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