The Old-Fashioned Doc Clinic, a well-established health-care organization, received a $500,000 pledge in fiscal year 20X0 that was restricted to cover operating expenses. The gift was received over two years, $200,000 in the first year and $300,000 in the second year. The following table reflects the funds received as well as the amount spent on operating the clinic.

How much should The Old-Fashioned Doc Clinic report as Support from Contributions for the year ended June 30, 20Xl?
a. $0
b. $300,000
c. $340,000
d. $500,000

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Gifts received Clinic operating expenses June 30, June 30, 20X0 20X1 $200,000 $300,000 $180,000 $340,000