Exercise 196

A well-known celebrity sponsored a telethon for the Help for the Blind Foundation on November 1, 2015. Pledges in the amount of $990,000 were called in. Using similar telethon campaigns as a basis, it is estimated that 25% of the pledges will be uncollectible. During 2016, $709,000 of contributions from these pledges were collected. The remainder were uncollectible. Identify the appropriate fund and prepare the journal entries necessary in 2015 and 2016 to record these transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
	Unexpended Plant FundCurrent Unrestricted Fund
2015
	(To record gross amount of campaign pledges)
	(To record provision for estimated uncollectible pledges)
2016
	(To record contributions collected)
	(To record uncollectible pledges)

Exercise 19-6 A well-known celebrity sponsored a telethon for the Help for the Blind Foundation on November 1, 2015. Pledges in the amount of $990,000 were called in. Using similar telethon campaigns as a basis, it is estimated that 25% of the pledges will be uncollectible. During 2016, $709,000 of contributions from these pledges were collected. The remainder were uncollectible. Identify the appropriate fund and prepare the journal entries necessary in 2015 and 2016 to record these transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit 2015 (To record gross amount of campaign pledges) (To record provision for estimated uncollectible pledges) 2016 (To record contributions collected) (To record uncollectible pledges)