An individual contributed $$100,000$ of cash and pledged another $$50,000$ to an NFPO to cover the $$50,000$ salary of its executive director for the current year and the next two years. How should the contributions be reported, if the organization uses the deferral method of accounting for contributions?

Multiple Choice

$$150,000$ should be reported as contribution revenue in the current year.

$$50,000$ should be reported as contribution revenue in the current year and $$100,000$ should be reported as deferred contribution revenue at the end of the current year, assuming that the pledge receivable is likely to be collected.

$$100,000$ should be reported as contribution revenue in the current year and $$50,000$ should be reported as contribution revenue when the individual remits the other $$50,000.$

$$100,000$ should be reported as contribution revenue in the current year and $$50,000$ should be reported as deferred contribution revenue at the end of the current year, assuming that the pledge receivable is likely to be collected.