Which Entry Would Be the Correct Entry on the Not-For-Profit

Which entry would be the correct entry on the not-for-profit organization's books to record a donor's gift when power over the assets has been retained by the donor? $\begin{array} { l l }\text {DEBIT}&\text {CREDIT}\\ \text { A) Expense-charitable contribution } & \text { Cash } \\ \text { B) Refundable advance to charity } & \text { Cash } \\ \text { C) Cash } & \text { Liability to beneficiary } \\ \text { D) Cash } & \text { Refundable advance } \\ \text { E) Cash } & \text { Contribution revenue } \end{array}$

A) Option A
B) Option B
C) Option C
D) Option D
E) Option E

Correct Answer:

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