A Donor Gave a Gift of $40,000 Cash to a Private

A donor gave a gift of $40,000 cash to a private college in 2013 to support basic psychology research.The funds were expended in 2014.The private college would recognize the $40,000 as:

A) Revenue in 2013 increasing temporarily restricted net assets; recognize the expense in 2014, and reclassify the resources from temporarily restricted net assets to unrestricted net assets in 2014.
B) Deferred revenue in 2013 and as revenue in 2014, increasing temporarily restricted net assets. The expense would be recognized also in 2014, and the resources would be reclassified from temporarily restricted net assets to unrestricted net assets in 2014.
C) Deferred revenue in 2013 and as revenue in 2014, increasing unrestricted net assets. The expense would be recognized in 2014.
D) Either (b) or (c) , depending upon the policy of the private college.