In November, a public broadcasting station conducts its annual pledge drive and receives telephone pledges of $700,000.
Question:
In November, a public broadcasting station conducts its annual pledge drive and receives telephone pledges of $700,000. By year-end December 31, it collects $400,000 of the pledges (assuming an overall 10% uncollectibles)
Debit Pledge Receivables for $300,000 and credit Revenues contributed $300,000 (in an temporarily restricted fund)
Debit Pledge Receivables for $240,000 and credit Revenues contributed $240,000 (in an unrestricted fund)
Debit Pledge Receivables for $300,000 and credit Revenues contributed $300,000 (in an unrestricted fund)
Debit Pledge Receivables for $300,000 and credit Revenues contributed $230,000 and uncollectibles $70,000 (in an temporarily restricted fund)
Advanced Accounting
ISBN: 978-0077862220
12th edition
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik