on january 10th of the current fiscal year, the red oak health club, a nongovernmental,...
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On January 10th of the current fiscal year, the Red Oak Health Club, a nongovernmental, not-for-profit corporation, received a $125,000 contribution restricted to "smoking cessation" programs. During the same fiscal year, the smoking cessation program generated revenues of $92,000 and had program expenses of $105,000. What amount should the Red Oak Health Club report as net assets released from restrictions for the year
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