Wilson Center is a private not-for-profit voluntary health and
welfare entity. During 2017, it received unrestricted pledges of
$633,000, 62 percent of which were payable in 2017, with the
remainder payable in 2018 (for use in 2018). Officials estimate
that 10 percent of all pledges will be uncollectible.
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How much should Wilson Center report as contribution revenue for
2017? (Ignore time value calculations.)
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In addition, a local social worker, earning $28 per hour working
for the state government, contributed 650 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?
