The following events relate to Habitat for Humanity Internationals activities. If appropriate, assume a discount rate of 3 percent per annum. Expenditures for house building activities are categorized as program expense.

Need Part b. answer.

6. A donor contributes $15,000 in cash and signs an agreement to contribute $15,000 at the beginning of each of the next four years, to support specific Habitat for Humanity projects. a. Contribution received now b. Contributions received the next four years Recorded