A donor contributes $15,000 to a hospital to use for operating costs in the intensive care unit.

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A donor contributes $15,000 to a hospital to use for operating costs in the intensive care unit. How does it account for this contribution? How does it account for the expenditure of the $15,000?

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Advanced Financial Accounting

ISBN: 978-0078025624

10th edition

Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker

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Question Posted: May 23, 2014 12:35 PM

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A donor contributes $15,000 to a hospital to use for operating costs in the intensive care unit.

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The 15000 is accounted for as a contribution to a specific purpose restricted fund When th...View the full answer

Advanced Financial Accounting

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