A business donated rent free office space to the organization that would normally rent for $35,000 a year A fund drive raised $185,000 in cash and $100,000 in pledges that will be paid within one year A state government grant of $150,000 was received for program operating costs related to public health education Salaries and fringe benefits paid during the year amounted to $208,560 At year end, an additional $16,000 of salaries and fringe benefits were accrued A donor pledged $100,000 for construction of a new building, payable over five fiscal years, commencing in 2022 The discounted value of the pledge is expected to be $94,260 Office equipment was purchased for $12,000 The useful life of the equipment is estimated to be five years Office furniture with a fair value of $9,600 was donated by a local office supply company The furniture has an estimated useful life of 10 years Furniture and equipment are considered net assets without donor restrictions by INVOLVE Telephone expense for the year was $5,200, printing and postage expense was $12,000 for the year, utilities for the year were $8,300, and supplies expense was $4,300 for the year At year end, an immaterial amount of supplies remained on hand and the balance in accounts payable was $3,600 Volunteers contributed $15,000 of time to help with answering the phones, mailing materials, and various other clerical activities It is estimated that 90 percent of the pledges made for the 2021 year will be collected Depreciation expense is recorded for the full year on the assets recorded in item 5 All expenses were allocated to program services and support services in the following percentages public health education, 35 percent community service, 30 percent management and general, 20 percent and fund raising, 15 percent Net assets were released to reflect satisfaction of state grant requirements that the grant resources be used for public health education program purposes All nominal accounts were closed to the appropriate net asset accounts Prepare journal entries to record these transactions Expense transactions should be initially recorded by object classification in entry 9 expenses will be allocated to functions (If no entry is required for a transaction event, select No Journal Entry Required in the first account field )

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A business donated rent-free office space to the organization that would normally rent for $35,000 a year. A fund drive raised $185,000 in cash and

A business donated rent-free office space to the organization that would normally rent for $35,000 a year.
A fund drive raised $185,000 in cash and $100,000 in pledges that will be paid within one year. A state government grant of $150,000 was received for program operating costs related to public health education.
Salaries and fringe benefits paid during the year amounted to $208,560. At year-end, an additional $16,000 of salaries and fringe benefits were accrued.
A donor pledged $100,000 for construction of a new building, payable over five fiscal years, commencing in 2022. The discounted value of the pledge is expected to be $94,260.
Office equipment was purchased for $12,000. The useful life of the equipment is estimated to be five years. Office furniture with a fair value of $9,600 was donated by a local office supply company. The furniture has an estimated useful life of 10 years. Furniture and equipment are considered net assets without donor restrictions by INVOLVE.
Telephone expense for the year was $5,200, printing and postage expense was $12,000 for the year, utilities for the year were $8,300, and supplies expense was $4,300 for the year. At year-end, an immaterial amount of supplies remained on hand and the balance in accounts payable was $3,600.
Volunteers contributed $15,000 of time to help with answering the phones, mailing materials, and various other clerical activities.
It is estimated that 90 percent of the pledges made for the 2021 year will be collected. Depreciation expense is recorded for the full year on the assets recorded in item 5.
All expenses were allocated to program services and support services in the following percentages: public health education, 35 percent; community service, 30 percent; management and general, 20 percent; and fund-raising, 15 percent.
Net assets were released to reflect satisfaction of state grant requirements that the grant resources be used for public health education program purposes.
All nominal accounts were closed to the appropriate net asset accounts.

Prepare journal entries to record these transactions. Expense transactions should be initially recorded by object classification; in entry 9 expenses will be allocated to functions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)