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In a Private College, as Expenses Are Made in Compliance \quad

Question 11

Multiple Choice

In a private college, as expenses are made in compliance with donor restrictions on previously made contributions, what type of journal entry must be made to record the transaction from the aspect of the current, unrestricted fund?


A) ?Reclassification Out-Temporarily Restricted Satisfaction of donor restriction \quad XXX
Reclassification In-Unrestricted
Satisfaction of donor restriction \quad \quad XXX
?
B) ?Cash \quad \quad XXX
Revenue-Temporarily Restricted Contributions \quad XXX
C) ?Cash \quad \quad \quad \quad \quad XXX
Revenue-Unrestricted \quad \quad \quad XXX
D) ?Interfund Transfer out-Temp Restricted \quad XXX
Interfund Transfer In-Unrestricted \quad \quad \quad XXX

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