On December $1,2016,$ St$.$ Sebastian University received cash of $$30,000$ and a pledge for another $$60,000$ to be paid in $2017.$ The amounts are to establish a permanent endowment to provide scholarships for music majors. How should this event be recorded on December $31,2016,$ assuming St$.$ Sebastian is a private university?

$3)$

$\_\_\_\_\_\_\_$

A$)$

$$

Restricted Cash

$30,000$

$$

Contributions receivable

$60,000$

$$

Contribution Revenue: Permanently restricted

$$

$90,000$

$$

B$)$

$$

Restricted Cash

$30,000$

$$

Contributions receivable

$60,000$

$$

Contribution Revenue: Revenues: Permanently restricted

$$

$30,000$

Deferred Revenues

$$

$60,000$

$$

C$)$

$$

Restricted Cash

$30,000$

$$

Contribution Revenue: Permanently restricted

$$

$30,000$

$$

D$)$

$$

Restricted Cash

$30,000$

$$