12-7. Record the following transactions on the books of Hope Hospital, which follows FASB (not-for-profit) and AICPA standards. The year is 2020. 1. Hope received $15,000 in cash from pledges made in the previous year that were unrestricted as to purpose but intended to be received and expended in 2020. 2. Hope received $31,000 in pledges that indicated the money would be received in 2021. The donors imposed no restrictions other than it could be used for any purpose desired by the board. 3. Hope expended $40,000 for nursing training, using $33,000 of donor-restricted resources received in 2019 for that purpose. 4. On June 15, 2020, Hope was awarded a $50,000 grant for cancer research by the U.S. Department of Agriculture. During 2020. Hope had qualified expenses under the grant totaling $35,000. This is cost reimbursement, grant. 5. Hope received $270,000 in cash. The board decided to invest the funds for future plant expansion.