Recording fundraising transactions in Quick Books

As a fundraiser for our school, the Church purchases Gift Cards in bulk thru GL Scrip Program. Our cost is less than the face value for which the cards are sold. The company sends us the proceeds which I understand is considered a donation. There has been some inconsistency on how all this is recorded. What would be considered the proper way to enter these transactions?

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Jan 18, 2014

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by: Anonymous MN

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