McAllister University, a private, nonprofit university, receives a letter from an alumnus who pledges $1,500,000 to be used for accounting research, 95% of which is expected to be collected based on past experience with similar pledges. The pledge is considered unconditional. What effect would this transaction on the Statement of Activities?

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Impact of Pledge on McAllister Universitys Statement of Activities The receipt of the alumnuss pledg... View the full answer