NFPO is a large not-for-profit organization. NFPO receives a significant portion of its revenues in the form of pledges from its annual fundraising campaign. During the current fiscal year, pledges totaled $270,000. During the year, NFPO collected $195,000 of the pledges. It is estimated that of the $75,000 outstanding pledges, $71,000 is collectible. What amount should NFPO recognize as revenue for the year?

Multiple Choice

• $191,000

• $195,000

• $266,000

• $270,000