Question: In each case, identify (a) whether the item should be recorded as a contribution and (b) if recorded, prepare the journal entry or entries to

In each case, identify (a) whether the item should be recorded as a contribution and (b) if recorded, prepare the journal entry or entries to record the event. If net assets are affected, indicate the category of net assets affected. NOTE: Round answers to the nearest whole number, when appropriate. 1. In a telephone solicitation, a potential donor says he will contribute $500 in 30 days

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