During $2023,$ Mr$.$ Heidrich makes a five$-$year unconditional pledge of $$250,000$ to a not$-$

for$-$profit organization that will be paid in equal annual installments beginning in $2024.$

Assuming Mr$.$ Heidrich will make all of the annual payments, how would the pledge be

recorded in $2023?$

Contribution revenues with donor restrictions of $$250,000$ discounted to its present value

Contribution revenue with donor restrictions of $$250,000$ net of an allowance for bad debts

Cont ibution revenue without donor restrictions of $$250,000$

Not recorded in $2018$ since payments will not be made until $2019$