Which Entry Would Be the Correct Entry to Record Pledges

question 21

Multiple Choice

Which entry would be the correct entry to record pledges of $100,000 for a telethon event to raise money for a not-for-profit public television station? The public television entity estimates that 5% of the funds will be uncollectible. DEBIT CREDIT

• A) Pledges Receivable $100,000 Unrestricted net assets-contributions $100,000
• B) Cash $100,000 Unrestricted net assets-contributions $100,000
• C) Pledges Receivable $100,000 Unrestricted net assets-contributions $95,000 Allowance for uncollectible pledges $ 5,000
• D) Pledges Receivable $95,000 Unrestricted net assets-contributions $100,000 Allowance for uncollectible
• Pledges $5,000
• E) Cash $95,000 Unrestricted net assets-contributions $100,000 Allowance for uncollectible
• Pledges $5,000

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Definitions:

Big Three

A term that can refer to the three dominant entities in any given industry or sector, often implying their power and influence over market dynamics.

Leadership Potential

The capacity or ability an individual possesses that may indicate their likelihood of becoming an effective leader.

Omnipotent Authority

An individual or entity possessing complete power and influence, often seen within religious or mythological contexts.

Personal Conviction

A strong belief or opinion that is held by an individual, often guiding their actions and decisions.