A nonprofit organization received the following donations in cash and pledges during the year 2022:

Cash donations received: $50,000
Pledges received for future donations: $20,000
Assume that the nonprofit organization uses accrual accounting.

a) What is the total revenue recognized in 2022?
b) How much of the pledges received should be recognized as revenue in 2022?
c) If $5,000 of the pledges were deemed uncollectible in 2022, what is the net amount of pledges receivable at the end of the year?
d) What is the total amount of cash received from donors in 2022, including the cash donations and any collections of pledges?

Answer rating: 100% (QA)

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