The Turtle Island Singers receive three gifts during the cur…
The Turtle Island Singers receive three gifts during the current year: (a) $3,000, which may be used for any purpose at any time; (b) $5,000, which must be used for a special concert given in a nursing home; and (c) $1,000, which may be used for any purpose, but only in the next fiscal year. When it receives the gifts, how should the entity classify them:
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