On January 1, 2011, a Voluntary Health and Welfare Organization (VHWO) receives an unconditional promise to give $6,000. The money is not collectible until 2012.
On January 1, 2011, a Voluntary Health and Welfare Organization (VHWO) receives an unconditional promise to give $6,000. The money is not collectible until 2012. The VHWO estimates that 10% of pledges are uncollectible. On January 1, 2011, the VHWO will credit:
a. Allowance for Uncollectible Contributions $600, Contribution Revenue $5,400.
b. Allowance for Uncollectible Contributions $600, Temporarily Restricted Support - Contribution, $5,400.
c. Allowance for Uncollectible Contributions $600, and Unrestricted Support - Contribution, $5,400.
d. Unrestricted Support - Contribution, $6,000.
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Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
11th Edition
978-0132568968, 9780132568968
