St, Mark’s is a private not for profit hospital. At the end of DEC 2013, a donor pledged to make five payments of $45,000, on January 1, 2014, - 2018. The contributions are restricted to pay for operations in those years. The present value of these payments is $200,930, discounted at 6%. The contribution was not restricted as to purpose. Record all entries required for 2013 and 2014.

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Journal Debit Credit 2013 Plegdes Receivables 200930 Contribution Revenue Temporarily Re... View the full answer