Oscar J. asked
We received a $50,000 gift for our LLC Partnership with five members. The gift was made to the LLC, but we want to distribute $25,000 each to two specific members to help with their unexpected bills. How should we record this transaction in our accounting software, and what categories should we use for both receiving and distributing the funds?
September 4th, 2024
Shelby W. answered
When recording the $50,000 gift in your accounting software, categorize it as 'Partner's Contributio...
September 4th, 2024
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