Save the Elephants organization has completed its annual fundraising drive in June 2013. It received $50,000 in cash donations and an additional $20,000 in pledges, up slightly from 2012, when it had collected all but $2,800 of its pledges. In preparing its June 30, 2013, financial statements, the controller noted that $18,000 of pledges remained uncollected as of June 30, 2013.
Required
What would be the recommended accounting treatment for contributions receivable?