Prepare journal entries based upon the following transactions for the "Just Do It" Not for...
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Accounting
Prepare journal entries based upon the following transactions for the "Just Do It" Not for profit organization. a The "Just Do It" organization hosted its annual fundraiser and received pledges of $980k in contributions. Historically, they've collected 96% of what is promised. They do NOT utilize the direct write off method. b The "Just Do It" organization awarded $200,000 to students that met the exact specifications for satisfying restrictions from previously received contributions and awarded an additional $260,000 to students that did not meet the restricted revenue criteria. All of the scholarships were scheduled to be paid the following year. c The "Just Do It" organization received $899,000 of the contributions in item (a). They wrote off the balance.
Prepare journal entries based upon the following transactions for the "Just Do It" Not for profit organization
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