A journal entry will be recorded by the for-profit company for any sale of services or goods. This would be a debit from the Accounts Receivables account of $120,000, and a charge to Sales revenue in the exact same amount. This transaction is on net-30 day terms. Therefore, any possible interest should be recognized in an accrual account.
Pledges will be recorded as revenue by the entity. It involves crediting the Revenue account Unrestricted net assets or Temporarily restricted net assets, depending on what these funds will be used for. This is because there has not been an exchange of funds yet. There would be no additional entries, but rather a recognition that a future revenue stream could exist.
Both entities must record transactions in separate journals. While there are some similarities due to the nature of their strategies (sales versus pledges, for example), these two different approaches require distinct accounting treatments.