Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik

Exercise 69

A voluntary health and welfare organization receives $32,000 in cash from solicitations made in the local community.The organization receives an additional $1,500 from members in payment of annual dues.Members are assumed to receive benefits roughly equal in value to the amount of dues paid.How should this money be recorded
a.Revenues of $33,500.
b.Public support of $33,500.
c.Public support of $32,000 and a $ 1,500 increase in the fund balance.
d.Public support of $32,000 and revenue of $1,500.