Business, 17.03.2020 06:24 shannonderemer

Ruth Richter gives a nonprofit entity $25,000 in cash. She tells the entity that it may use the gift for a particular research project but only after it receives at least $20,000 cash from other donors to help complete the project. If the entity fails to raise the additional $20,000, it must return Ruth’s gift. What account should the entity credit when it receives Ruth’s gift but none of her conditions are substantially met?

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Ruth Richter gives a nonprofit entity $25,000 in cash. She tells the entity that it may use the gift...