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In November, 2021, the Gurudham Cultural Centre (GCC), a not-for-profit organization reporting under ASNPO conducted its fifth fundraising drive. Management was pleased to note that
In November, 2021, the Gurudham Cultural Centre (GCC), a not-for-profit organization reporting under ASNPO conducted its fifth fundraising drive. Management was pleased to note that the fundraiser resulted in cash receipts of $10,0000, and pledges totaling $46,000. Fundraising costs amounted to $36,000. Management expects to collect 95% of the pledges by the end of the year. What is the amount of contribution revenue that should be reported for the fiscal year 2021 ? $100,000 $107,700 $64,000 $143,700
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