The following receipts are among those recorded by Middleton Private College during 2019:Unrestricted gifts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $300,000Restricted gifts (expended for current operating purposes) . . . . . . . . . . 100,000Restricted gifts (not yet expended). . . . . . . . . . . . . . . . . . . . . . . . . . . . . 600,000The amount that should be included in revenues isa. $300,000.b. $700,000.c. $900,000.d. $1,000,000.

The following receipts are among those recorded by Middleton Private College during 2019:Unrestricted gifts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $300,000Restricted gifts (expended for current operating purposes) . . . . . . . . . . 100,000Restricted gifts (not yet expended). . . . . . . . . . . . . . . . . . . . . . . . . . . . . 600,000The amount that should be included in revenues isa. $300,000.b. $700,000.c. $900,000.d. $1,000,000.

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter17: Corporations: Introduction And Operating Rules

Section: Chapter Questions

Problem 45P

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