Carlton (Private) University Received the Following Pledges During 2015

question 64

Essay

Carlton (private) University received the following pledges during 2015:
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a.Jane Baker pledges $30,000 to be used for student scholarships.?
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b.As a result of a pledge drive, $400,000 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.These pledges are unrestricted.?
Required:
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Make the journal entries necessary to record the pledges.

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