Question: On December 1 , 2 0 2 3 , St . Sebastian University received cash of $ 3 0 , 0 0 0 and a

On December 1,2023, St. Sebastian University received cash of $30,000 and a pledge for another $60,000 to be paid in 2024. The amounts are to establish a permanent endowment to provide scholarships for music majors. How should this event be recorded on December 31,2023, assuming St. Sebastian is a private university?
Multiple Choice
Account TitlesDebitCreditRestricted Cash30,000Contribution Revenue: With Donor Restrictions30,000
Account TitlesDebitCreditRestricted Cash30,000Contributions receivable60,000Contribution Revenue: With Donor Restrictions90,000
Account TitlesDebitCreditRestricted Cash30,000Contributions receivable60,000Contribution Revenue: With Donor Restrictions30,000Deferred Revenues60,000
Account TitlesDebitCreditRestricted Cash30,000Contributions receivable60,000Contribution Revenue: Temporarily restricted90,000

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