What entry would be made for the initial pledge by the

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Reference no: EM13393850

A donor pledged $100,000 to the fund raising drive of a local government to assist its police officers in obtaining the latest technology. The pledge was made on July 16, 2008 but was conditioned on the government raising an additional $100,000 from other donors. By the fiscal year-end of June 30, 2009, the local government had raised only $5,000 from other donors. What entry would be made for the initial pledge by the local government during the year ended June 30, 2009?

A. No entry

B. Debit a receivable and credit Fund Balance

C. Debit a receivable and credit deferred revenues, a liability

D. Debit a receivable and credit a revenue

Reference no: EM13393850

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