Indicate how the following contributed service would be recorded by a private, non-profit organization:

A retired school teacher donated his time to coach a basketball team sponsored by a youth drug rehabilitation center. The volunteer never coached before, but he played one year in high school.

The contribution is not recorded.

The contribution is recorded as revenue with an equal amount recorded as expense.

The contribution is recorded as revenue with an equal amount recorded as other financing uses.

The contribution is recorded as an asset with an equal amount recorded as expense.

The contribution is recorded as an asset with an equal amount recorded as contribution revenue.