A voluntary health and welfare organization received a pledge in 20X1 from a donor specifying that the

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A voluntary health and welfare organization received a pledge in 20X1 from a donor specifying that the amount pledged be used in 20X3. The donor paid the pledge in cash in 20X2. For what amount should it be accounted?

a. Contribution revenue in 20X3.

b. Contribution revenue in 20X2.

c. Contribution revenue in 20X1.

d. Contribution revenue in the period in which the funds are spent.

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Advanced Financial Accounting

ISBN: 9781260165111

12th Edition

Authors: Theodore Christensen, David Cottrell, Cassy Budd

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Question Posted: Mar 15, 2024 04:00 AM

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A voluntary health and welfare organization received a pledge in 20X1 from a donor specifying that the

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Advanced Financial Accounting

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