United Charities’ Annual Fund-Raising Drive in 2016 Raised Pledges of $1,200,000

United Charities’ annual fund-raising drive in 2016 raised pledges of $1,200,000 of which $800,000 were collected in 2016 and $200,000 were collected in 2017. United Charities estimates $150,000 of the remaining pledges will never be collected.


-In the current year National Pet Charities, which uses fund-type accounting to maintain its books and records, received a $30,000 contribution to help educate people on responsible pet ownership. During the current year, the entry to record this donation is

A) UNRESTRICTED FUND. No entry. RESTRICTED FUND. Debit Cash $30,000; Credit Revenues $30,000.
B) UNRESTRICTED FUND. No entry. RESTRICTED FUND. Debit Cash $30,000; Credit Net assets $30,000.
C) UNRESTICTED FUND. Debit Cash $30,000; Credit Revenues $30,000. RESTRICTED FUND. No entry.
D) UNRESTRICTED FUND. Debit Cash $30,000; Credit Net assets $30,000. RESTRICTED FUND. No entry.