Ask Question
18 December, 07:11

In 20X8, the following pledges were made: $35,000 in unrestricted contributions for use in 20X8; $20,000 in contributions restricted for use in 20X9; and a $400,000 contribution restricted for the establishment of a permanent endowment. It is anticipated that 10% of all pledges except the endowment pledge will be uncollectible. Pledges receivable for 20X8 should be

+4
Answers (1)
  1. 18 December, 10:46
    0
    Answer: $455,000

    Explanation:

    As the question states what will be the pledges receivable for 20x8 therefore, we will calculate all the pledges:

    $35,000 + $20,000 + $400,000 = $455,000

    Hence, the answer is $455,000 as we take into account all the pledges for the year 20x8.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “In 20X8, the following pledges were made: $35,000 in unrestricted contributions for use in 20X8; $20,000 in contributions restricted for ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers