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Prepare the necessary journal entries for 2017 for these transactions if Kerrisdale Community College did not use fund accounting but used the deferred contribution method for recording revenues

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Community College has an operating fund, a scholarship fund and an endowment fund. All scholarship donations are taken to the endowment fund and the contributions are invested to earn investment income. Some donors have stipulated that their endowments must be protected against inflation by using investment income to increase the endowment balance to keep pace […]

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