Arc Hospital received an unconditional pledge of $1 million, which will be paid in four installments of $250,000 over four years What amount of installment pledge revenue should be recognized in the first year (i e , when the unconditional pledge was made) Select one a $1,000,000 b $250,000 c $500,...

The detailed answer for the above question is provided below The correct answer to this question i ...

Arc Hospital received an unconditional pledge of $1 million, which will be paid in four installments of

Fantastic news! We've Found the answer you've been seeking!

Arc Hospital received an unconditional pledge of $1 million, which will be paid in four installments of $250,000 over four years. What amount of installment pledge revenue should be recognized in the first year (i.e., when the unconditional pledge was made)?
Select one:
a. $1,000,000
b. $250,000
c.$500,000
d. $0