Southern Coast (Private) University Received the Following Pledges During 2014

question 65

Essay

Southern Coast (private) University received the following pledges during 2014: ?
A)Joy Dance pledges $60,000 to be paid over a three-year period beginning at the end of this year.Southern Coast discounts this contribution at 10%.The present value is $49,737.? ?
B)As a result of a pledge drive, $500,000 is pledged to be paid by the end of the accounting year.Ten percent of pledges in the past have been shown to be uncollectible.? Required:
?
Make the necessary journal entries to record the pledges.

• A)Joy Dance pledges $60,000 to be paid over a three-year period beginning at the end of this year.Southern Coast discounts this contribution at 10%.The present value is $49,737.? ?
• B)As a result of a pledge drive, $500,000 is pledged to be paid by the end of the accounting year.Ten percent of pledges in the past have been shown to be uncollectible.? Required:
• ?
• Make the necessary journal entries to record the pledges.

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Definitions:

Customer Arousal

The state of being physically or emotionally stimulated as a response to marketing or product experiences.

Positive or Negative

Terms used to describe the valence of emotions, experiences, or outcomes, indicating whether they are viewed as favorable or unfavorable.

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Marketing Contexts

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