Advanced Accounting 12th Edition by Joe Ben Hoyle,Thomas Schaefer , Timothy Doupnik

تمرين 9

A voluntary health and welfare organization receives a gift of new furniture having a fair value of $2,100. The group then gives the furniture to needy families following a flood. How should the organization record receipt and distribution of this donation
A) Make no entry.
B) Record a contribution of $2,100 and community assistance expense of $2,100.
C) Recognize revenue of 52,100.
D) Recognize revenue of $2,100 and community expenditures of 52,100.