At the beginning of 2020, a donor makes a documented promise to contribute $10,000 per year to a private NFP organization at the end of each of the years 2020, 2021, and 2022. The donor says the contribution may be used for any purpose, and the appropriate discount rate is 4%. The organization estimates that collections will be $9,000 per year for each of the three years. The present value factor is 2.7751.

When the promise is recorded at the beginning of 2020, contributions receivable is debited for:

A. $30,000

B. $27,000

C. $24,976

D. $27,751