Education
Study Abroad Pass-Through Fee
Recording the payment to a foreign institution for a student's semester abroad.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Study Abroad Clearing Account | Asset (+) | 4,000.00 | - |
| Cash in Bank | Asset (-) | - | 4,000.00 |
💡 Accountant's Note
If the student pays the home school for an overseas program, the home school records the payment to the foreign partner as a receivable/clearing item until the semester starts.
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