On December 31, Ecology Center, a nongovernmental not-for-profit organization, received an unconditional pledge of $125,000 to be received in three years. The Ecology Center is confident that it will collect the entire $125,000. The Ecology Center uses the present value technique when measuring fair value. How should the Ecology Center record the pledge?

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When a notforprofit organization like the Ecology Center receives an unconditional pledge that will ... View the full answer