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:

Architecture Neutral

A term describing software that can run on any hardware platform or operating system without modification.

CPUs

Central Processing Units; the primary component of a computer that interprets and executes instructions from software and hardware.

Application Programming Interface

A set of rules and protocols that allows different software applications to communicate with each other.

Documentation

Description of the technical details of the software, how the code works, and how the user interacts with the program; in addition, all the necessary user documentation that will be distributed to the program’s users.