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 XXX
Reclassification In-Unrestricted
Satisfaction of donor restriction XXX
?
B) ?Cash XXX
Revenue-Temporarily Restricted Contributions XXX
C) ?Cash XXX
Revenue-Unrestricted XXX
D) ?Interfund Transfer out-Temp Restricted XXX
Interfund Transfer In-Unrestricted XXX
Correct Answer:
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