The Evans Schools of Public Policy and Governance held its annual Fellowship Dinner on October 29, 2015. The event raised $560,000 in pledges and cash contributions. As of November 30th, the school had received $350,000 of the $560,000.

• The Director of Finance and Administration projects 5 percent of all pledges would not be collected. How much should the Evans School report in pledges receivable?

• Following a successful fundraiser event, Dean Archibald awarded current and incoming students $450,000 in financial aid and support beginning July 2016. What impact, if any, would this transaction have on the Schools assets, liabilities, and/or net assets. Be sure to identify whether they are affected negatively (-) or positively (+).