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 to a public television fundraiser? The public television organization estimates that 5% of the funds will be uncollectible.

• A)debit Pledges Receivable $100,000,credit unrestricted net assets-contributions $100,000.
• B)debit Cash $100,000,credit unrestricted net assets-contributions $100,000.
• C)debit Pledges Receivable $100,000,credit unrestricted net assets-contributions $95,000,credit allowance for uncollectible pledges $5,000.
• D)debit Pledges Receivable $95,000,debit allowance for uncollectible pledges $5,000,credit unrestricted net assets-contributions $100,000.
• E)debit cash $95,000,debit allowance for uncollectible pledges $5,000,credit unrestricted net assets-contributions $100,000.

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Definitions:

Field

In computing, an area allocated for a specific piece of data within a database or software application.

Rename

To rename is to change the name of a file, directory, or other types of data or document to a new one.

Field Properties

Attributes or settings that define the behavior and characteristics of a data field within a database or form.

Data Type

Specifies the kind of data that can be stored and manipulated within a programming environment.