Suppose a customer rents a vehicle for four months from Rent-A-Car on October 1, paying $4,400 ($1,100/month). Record Rent-A-Car's adjusting entry on December 31. (If no entry is required for a transaction/event, select "No journal entry
required" in the first account field.)
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Record Rent-A-Car's adjusting entry on December 31.
Note: Enter debits before credits.
General Journal
Debit
Credit
Date
December 31
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Wilson center is a private not-for-profit voluntary health and welfare entity. during 2017, it received unrestricted pledges of $638,000, 65 percent of which were payable in 2017, with the remainder payable in 2018 (for use in 2018). officials estimate that 14 percent of all pledges will be uncollectible. a. how much should wilson center report as contribution revenue for 2017? b. in addition, a local social worker, earning $20 per hour working for the state government, contributed 600 hours of time to wilson center at no charge. without these donated services, the organization would have hired an additional staff person. how should wilson center record the contributed service?