A donor made a pledge in 2013 of $ 50,000 to a private not-for-profit organization with the intent to pay the cash in 2014 for unrestricted use in 2014.The organization should:
A) Record the pledge receivable and deferred revenue in 2013.
B) Record the pledge as unrestricted revenue in 2013.
C) Record the pledge as temporarily restricted revenue in 2013 and reclassify it to unrestricted in 2014.
D) Record the pledge as temporarily restricted revenue in 2013 and reclassify it to unrestricted in 2014, but only in an amount equivalent to the amount that is spent in 2014.
Correct Answer:
Verified
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