Rose Project is a nongovernmental not-for-profit entity established to help runaway children. Every year, Rose holds a charity benefit at which participants are asked to make pledges. This year, Rose received the following pledges: Unrestricted $500,000 Restricted for counseling programs 200,000 The pledges are legally binding and are expected to be received within the next 12 months. Rose estimates that 5% of the pledges will be uncollectible. At what amount should the pledges be reported on Rose’s balance sheet as pledges receivable? A. $665,000
B. $475,000
C. $190,000
D. $700,000