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A not-for-profit hospital receives services from an attorney as a donation. The hospital would have purchased this service from outside if it had not received
A not-for-profit hospital receives services from an attorney as a donation. The hospital would have purchased this service from outside if it had not received it as a donation. The estimated value of the attorney's services is $40,000. The journal entry to record these services is Blank______. Multiple choice question. Debit Donated ServicesRevenue for $40,000; Credit Other Professional Services Expense for $40,000 Debit Other Professional Services Expense for $40,000; Credit Donated ServicesRevenue for $40,000 Debit Donated ServicesRevenue for $40,000; Credit cash for $40,000 Debit Cash for $40,000; Credit Donated ServicesRevenue for $40,000
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