9_3 County Humane Society is a not-for-prot organization operating on a calendar scal year. The following transactions occurred during the year. 1. A building and lot downtown with a fair market value of $125,000 was donated to the society for resale in order to pay for a new shelter estimated to cost $150,000. The building and lot were sold lowing transactions occurred during the year. 2. The building mentioned in item 1 was built using the sale proceeds. An additional $25,000 of cash restricted for investment in plant was used to fund the construction. 3. Depreciation of $6,500 is recognized. $125,000. 4. Equipment costing $2,000 was acquired with donated resources received in the prior year designated for that purpose. 5. Equipment costing $500 with accumulated depreciation of $300 was sold for $250. Required: Prepare any journal entries needed for the above transactions, including the net asset designation. Appropriate. Closing entries are not required. County's policy is to record gifts to acquire long-lived plant assets as temporarily restricted until the asset is placed in service. Once the asset is placed in service, the restriction is assumed to be met