According to the rules for accounting for colleges and universities under the jurisdiction of the FASB,multiyear pledges are recorded as restricted revenue for the present value pledge (net of estimates for uncollectible amounts)when the pledge is made.

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Multiyear pledges are recorded as restricted revenue for the present value pledge (net of estimates for uncollectible amounts) when the pledge is made, as per the accounting rules for colleges and universities under the jurisdiction of the FASB.

According to the Rules for Accounting for Colleges and Universities