Question: Tupper Memorial Hospital received from a donor a $50,000 contribution and a $50,000 pledge payable in one year. The donor required that the funds be

Tupper Memorial Hospital received from a donor a $50,000 contribution and a $50,000 pledge payable in one year. The donor required that the funds be used for heart research. Explain how these transactions would be reported in Tupper’s balance sheet and operating statement under the independent assumptions that Tupper is
(a) A government hospital and
(b) A not-for-profit hospital.

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