Which Entry Would Be the Correct Entry to Record That

question 23

Multiple Choice

Which entry would be the correct entry to record that a not-for-profit organization collected $80,000 of amounts pledged and wrote off $3,000 of amounts pledged as amounts uncollectible?

• A)debit Pledges Receivable $80,000,credit Cash $80,000.
• B)debit Cash $80,000,credit Pledges Receivable $80,000.
• C)debit Pledges Receivable $80,000,credit allowance for uncollectible pledges 3,000,credit Cash $83,000.
• D)debit cash $80,000,debit allowance for uncollectible pledges $3,000,credit Pledges Receivable $83,000.
• E)debit cash $80,000,debit allowance for uncollectible pledges $3,000,credit unrestricted net assets-contributions $83,000.

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Definitions:

External Iliac Artery

A major artery that supplies blood to the lower limbs, originating from the common iliac artery.

Median Cubital Vein

A superficial vein of the upper limb, often used for venipuncture (drawing blood), located at the front of the elbow.

Suprarenal Vein

A vein draining blood from the adrenal gland into the renal vein or inferior vena cava.