Non-Profit
Bequest Received from Estate
Recording a cash legacy received following the death of a donor.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash in Bank | Asset (+) | 50,000.00 | - |
| Bequest Revenue (Unrestricted) | Revenue (+) | - | 50,000.00 |
💡 Accountant's Note
A bequest is recognized as revenue when the probate process is sufficiently complete and collection is virtually certain. If the will is contested, recognition is deferred until the uncertainty is resolved.
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