Prepare journal entries to record

Reference no: EM13121782

Q. Prepare journal entries to record the following:

1. Received pledges of $300,000 and cash gifts of $100,000 during the year to be used only for alcohol rehabilitation treatment programs.

2. Incurred expenses of $220,000 for its alcohol rehabilitation program but paid the expenses from unrestricted resources, not from available restricted resources.

Reference no: EM13121782

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