On January 1,2011,a Voluntary Health and Welfare Organization (VHWO) receives an unconditional promise to give $6,000.The money is not collectible until 2012.The VHWO estimates that 10% of pledges are uncollectible.On January 1,2011,the VHWO will credit
A) Unrestricted Support - Contribution,$6,000.
B) Allowance for Uncollectible Contributions $600,and Unrestricted Support - Contribution,$5,400.
C) Allowance for Uncollectible Contributions $600,Temporarily Restricted Support - Contribution,$5,400.
D) Allowance for Uncollectible Contributions $600,Contribution Revenue $5,400.
Correct Answer:
Verified
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