Investment income related to Assets Whose Use Is Limited amounted to $15,000 for St, Mary's Hospital, is a not-for-profit business oriented hospital. The hospital's board designated the money for future capital improvements. What is the journal entry to record this event?
A.
| Cash | 15,000 | |
| Nonoperating Income-Restricted-Assets Whose Use is Limited for Capital Improvements-Investment Income | 15,000 |
B.
| Cash | 15,000 | |
| Nonoperating Income-Unrestricted-Investment Income | 15,000 |
C.
| Cash-Assets Whose Use is Limited | 15,000 | |
| Nonoperating Income-Unrestricted-Assets Whose Use is Limited for Capital Improvements-Investment Income | 15,000 |
D.
| Cash-Assets Whose Use is Limited | 15,000 | |
| Nonoperating Income-Restricted-Assets Whose Use is Limited for Capital Improvements-Investment Income | 15,000 |
Answer: C
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