What is reported on farmsafe financial statement, Accounting Basics

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What is reported on farmsafe financial statement

Problem: FarmSafe is an NFPO involved in teaching farmers how to cope with crop disease outbreaks. During the past year, it received $500,000 of unrestricted donations plus pledges of $100,000, of which 70 percent is expected to be collected. Which of the following should be reported on FarmSafe's financial statement for the year? a. $600,000 donation revenue b. $600,000 donation revenue and $300,000 bad debt expense c. $500,000 donation revenue d. $570,000 donation revenue

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Accounting Basics: What is reported on farmsafe financial statement

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