Goodwill Employment is an NFPO helping the newcomers to Canada to adjust to Canadian environment and how to find a job. During the past year, it received $500,000 of unrestricted donations plus pledges of $100,000, of which 70% is expected to be collected. Which of the following should be reported on Goodwill Employment financial statement for the year?
a.
$500,000 donation revenue and $20,000 bad debt expense.
b.
$480,000 donation revenue.
c.
$570,000 donation revenue.
d.
$500,000 donation revenue.