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St. David's is a not-for-profit business-oriented hospital. What is the journal entry for the following transaction: Cash was received for pledges made in the prior
St. David's is a not-for-profit business-oriented hospital. What is the journal entry for the following transaction: Cash was received for pledges made in the prior year in the amount of $85,000. That amount has been recorded as temporarily restricted net assets, based on time restrictions. Mutiple Choice \begin{tabular}{|l|r|r|} \hline Contributions Receivable-Unrestricted & 85,000 & \\ \hline Contributions Receivable-Restricted & & 85,000 \\ \hline & & \\ \hline Cash & 85,006 & \\ \hline Contributions receivable-Unrestricted & & 85,000 \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline Cash & 85,000 & \\ \hline Contributions receivable & & 85,000 \\ \hline & & \\ \hline \begin{tabular}{l} Reclassification to Net Assets without Donor Restrictions- \\ Expiration of Time Restrictions \end{tabular} & 85,000 & \\ \hline \begin{tabular}{l} Reclassification from Net Assets with Donor Restrictions- \\ Expiration of Time restrictions \end{tabular} & & 85,000 \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline Cash & 85,000 & \\ \hline Contribution Revenue-Unrestricted & & 85,000 \\ \hline \end{tabular}
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