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When earned 19 A private citizen group holds a fundraiser to restore a historic city...

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Accounting

When earned

19 A private citizen group holds a fundraiser to restore a historic city hall. The citizen group will presen the city with the funds when the restoration begins. By the time the restoration begins in the third quarter of 20x2. There have been 100,000 in pledged donations in 20x1 and an additional 20,000 in pledged donations in the second quarter of 20x2.

How should the city account for the pledged donation to the restoration project in its fund level statements?

A Debit receivables 100,000 credit deferred inflow of resources 100,000

B Debit revenue 100,000 credit receivables 100,000

C Debit receivables 120,000 credit unearned revenue 120,000

D debit deferred inflow of resources 120,000 credit revenue 120,000

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