David contributed ($60,000) cash to State University. He stipulated that the money could not be used until

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David contributed \($60,000\) cash to State University. He stipulated that the money could not be used until Professor Lowgrade retired. Professor Lowgrade is not expected to retire for five years.Determine how much of the following contributions should be treated as unrestricted revenue during the current year.

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Advanced Accounting

ISBN: 12

5th Edition

Authors: Debra C Jeter, Paul K Chaney

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