A Not-For-Profit Organization Provides the Following Information for the Year

question 27

Essay

A not-for-profit organization provides the following information for the year: $$\begin{array} { | l | r | } \hline \text { Unrestricted pledges received this year, due within } 12 \text { months } & \$ 125,000 \\\hline \text { Contributions to the endowment received } & 20,000 \\\hline \text { Percentage of unrestricted pledges expected to be received: } & 90 \% \\\hline \text { Collections of pledges before the end of the year } & 75,000 \\\hline \text { Pledges written off at year-end } & 3,000 \\\hline\end{array}$$
Required: Prepare the journal entries for these transactions.

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