Examlex
On December 19, 2014, the directors of Quail Corporation (an accrual basis, calendar year taxpayer) authorized a cash donation of $5,000 to the American Cancer Society, a qualified charity. The payment, which is made on April 10, 2015, may be claimed as a deduction for tax year 2014.
Journal Entry
A record in accounting that notes a specific financial transaction in the books, involving a debit and a credit.
Sacred Church
A holy and revered institution or place of worship affiliated with a particular religion or belief system.
Charge And Discharge Statement
A financial report detailing the charges or debits against an account and the credits or payments made to it, often used in the context of trust accounts or estates to show activities over a period.
Journal Entry
A record that keeps the details of a financial transaction in the accounting books, involving a debit and credit.
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