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On December 3 1 , year 2 X 1 0 , a not - for - profit organization receives from a donor land contribution with
On December year X a notforprofit organization receives from a donor land contribution with a fair value of $ and a building with fair value of $ Both land and building were originally purchased by donor in year for $ As of December year the building had a remaining life of years. Starting January year the organization used the building for afterschool activities for children. What should be the total balance in the deferred contribution accounts at the end of year if the organization uses the deferred contribution method of reporting?
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