A Not-For-Profit Organization (Charity A) Raises Money for Other Charitable

question 3

Essay

A not-for-profit organization (Charity A) raises money for other charitable organizations. Charity A receives $10,000 to distribute to Charity
B.
B.
Assume that the donor retains the right to revoke or redirect the gift.
Prepare the journal entries for Charity A and Charity
B. The entries should be for the gift when received by Charity A, and when the gift is distributed for Charity

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Definitions:

Solvent

A substance that dissolves a solute, resulting in a solution; usually a liquid but can also be a solid or gas.

Water

A clear, flavorless, scentless, and almost invisible chemical compound that primarily makes up the waters of Earth's rivers, lakes, and seas.

Electronegativity

A measure of an atom's ability to attract and hold electrons, influencing the bond type and polarity among atoms.

Electrons

Subatomic particles with a negative charge, found in all atoms and playing essential roles in electricity, chemistry, and bonding.