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Accounting for Higher Educational Institution

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(Querist)
06 September 2022 What will be the journal entries of the following transactions of a college?
1. Capital Expenditure incurred from earmarked/designated fund.
2. Revenue expenditure incurred from earmarked/designated fund.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
06 September 2022 1 Debit the capital asset and credit bank account.
2 Debit concerned revenue expenditure and credit bank account.
Classify the earmarked fund as general fund.

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