Question
1. Prepare the journal entry for the following transaction: As a general rule, the organization estimates 10% of all pledges will not be received. A
1.Prepare the journal entry for the following transaction: As a general rule, the organization estimates 10% of all pledges will not be received. A donor made an unconditional pledge to the organization for $500,000 to be used for research in the current period. The organization starts research immediately and spends $25,000 in the first month.
DR________________________________________________________________ $_________
CR________________________________________________________________ $_________
CR________________________________________________________________ $_________
DR________________________________________________________________ $_________
CR________________________________________________________________ $_________
DR________________________________________________________________ $_________
CR________________________________________________________________ $_________
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Advanced Financial Accounting An International Approach
Authors: Jagdish Kothari, Elisabetta Barone
1st Edition
0273712748, 978-0273712749
