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Select all that apply Big Box Inc. donated office supplies to an NFPO on January 1, 20X1 with a fair value of $2,000. On December
Select all that apply Big Box Inc. donated office supplies to an NFPO on January 1, 20X1 with a fair value of $2,000. On December 31, 20X1, the NFPO has half of the supplies remaining. Assuming the NFPO has the policy to record the fair value of donated materials and services and uses the deferral method, the journal entries during 20X1 will include Multiple select question. Debit Contribution revenue $1,000; Credit Deferred contribution $1,000 Debit Office supplies (asset) $1,000; Credit Office supplies expense $1,000 Debit Office supplies expense $1,000; Credit Office supplies (asset) $1,000 Debit Deferred contribution $1,000; Credit Contribution revenue $1,000
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