Anderson University, a private, nonprofit university receives a letter from an alumnus who pledges $3,000,000, all of which is expected to be collected and which is unconditional. The alumnus places no restrictions on the gift; however, the donor indicated y y the pledge will be fulfilled in the next fiscal year. What journal entry would be recorded at the time of the pledge?

Answer rating: 100% (QA)

At the time of the pledge Anderson University would record the following journal entry to rec... View the full answer