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Annual fund-raising drive

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SSH has just completed its annual fund-raising drive. It received $1,750,000 of pledges. $750,000 was paid to SSH either in cash or by credit card. SSH sent invoices to the remaining donors. From past experience, SSH knows that 15% of these pledges will never be received. How would SSH record this transaction?

(When you record this transaction, record like this : Assets = Liabilities + Net assets)

Reference no: EM131093447

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