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  3. 3. (15 points) the organization held a fundraising

3. (15 points) The organization held a fundraising campaign in August to raise money for...

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Accounting

3. (15 points) The organization held a fundraising campaign in August to raise money for the construction of an education building. The campaign asked for donations to be given over a four year period. One of the fundraising efforts was to send a mass mailing to everyone who donated to the Church during the past three years. Due to the mass mailing, the following promises to give were received by the Church: a. Becky Smith --$10,000 per year b. William Scott --$25,000 per year C. Scot King --$35,000 per year d. Beth Wilson --$15,000 per year e. Thomas bradion.-353406000rweatimesit 8. Kelly Williams --$75,000 per year h. Margaret Frye --$55,000 per year i. Joe Lewis --$25,000 per year Tommy White --$15,000 per year a. Using Excel, prepare a schedule of promises to give. b. Using historical data from past campaigns, you estimate that 3% of pledges will not be received. Calculate the amount deemed uncollectible. Calculate and record the discount amount of the future pledges receivable using a discount rate of 3%. d. Prepare the journal entry(ies) to record the above activity.

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