How do you make an accounting entry for selling equipment to a hospital, but the equipment is paid for by a government centralized payment center? Thank you for your answer!

For expenditures paid directly by the government treasury, the budget unit will make accounting entries according to the notification letter and original documents sent by the correspondent bank:

Benefits:

Borrowing: Expenditures of Utilities

Crediting: Income from Financial Subsidies-Direct Payment

Administrative Units:

Borrowing: Expenditures of Appropriated Funds

Component of Financial Direct Payment

Being: Expenditures of Funds

Credit: Appropriated Funds - Direct Payment

The portion of the financial direct payment constitutes the new fixed assets, administrative units and institutions should be registered at the same time the fixed assets account, the accounting entries for:

Borrow: Fixed Assets

Loan: Fixed Funds

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