Question
A donor has contributed $50,000 to a public university to sponsor student loans. The donor has also promised to contribute another $100,000 to public university
A donor has contributed $50,000 to a public university to sponsor student loans. The donor has also promised to contribute another $100,000 to public university if public university can raise an equal amount of contribution in the next month.
How are each reported on the public universitys financial statements? Please explain why you report them in this way.
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Managerial Accounting
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
3rd edition
77826485, 978-0077722074, 77722078, 978-0077826482
