Kayla Made a $150,000 Contribution to the Gilliam Society, a Not-For-Profit

Multiple Choice

Kayla made a $150,000 contribution to the Gilliam Society, a not-for-profit organization. Kayla stipulated that his contribution is to be used for the organization's special events program in the next year. How should Gilliam record the contribution at the time of contribution?

A) As contribution revenue.
B) As a prepaid expense.
C) No entry is required.
D) As a deferred contribution.