The Stanton Company conveys $23,000 in cash to a private not-for-profit entity. The money must be used for a designated purpose. This conveyance is viewed as a conditional contribution. Which of the following is recorded by the private not-for-profit entity?

a. A liability

b. No journal entry is made.

c. Contributed revenue reported within net assets with donor restrictions

d. Contributed revenue reported within net assets without donor restrictions