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How do I account for raffle tickets that were purchased as a raffle prize?

 
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Best answer 06-16-2019

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Established Community Backer ***

Re: How do I account for raffle tickets that were purchased as a raffle prize?

You bought raffle tickets, and then had a raffle with those as a prize?

The purchase is an asset, when you award them that asset becomes an expense

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Established Community Backer ***

Re: How do I account for raffle tickets that were purchased as a raffle prize?

You bought raffle tickets, and then had a raffle with those as a prize?

The purchase is an asset, when you award them that asset becomes an expense