Five donors have pledged $1 million each over the next 4 years to Lucky Duck University. With this in mind, answer the following questions:
- At what point should these pledges be recognized as revenue?
- How should the revenue be valued?
- How should these pledges be reported as change in net assets, and in which net assets class should they be reported?
Use APA style in the body of your posting, as well as in the reference section.