Leaf Private College is sponsored by a religious group. Volunteers from this religious group regularly contribute...

 

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Leaf Private College is sponsored by a religious group. Volunteers from this religious group regularly contribute their skilled services to Leaf and are paid nominal amounts to cover their commuting costs. If Leaf did not receive these volunteer services, it would have to purchase similar services. During 2019, the total amount paid to these volunteers was $10,000. The gross value of services performed by them, as determined by reference to lay-equivalent salaries, amounted to $400,000. What amount should Leaf record as expenses in 2019 for these volunteers' services? a. $410,000 b. $400,000 c. $10,000 d. So Leaf Private College is sponsored by a religious group. Volunteers from this religious group regularly contribute their skilled services to Leaf and are paid nominal amounts to cover their commuting costs. If Leaf did not receive these volunteer services, it would have to purchase similar services. During 2019, the total amount paid to these volunteers was $10,000. The gross value of services performed by them, as determined by reference to lay-equivalent salaries, amounted to $400,000. What amount should Leaf record as expenses in 2019 for these volunteers' services? a. $410,000 b. $400,000 c. $10,000 d. So

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