A group of civic-minded merchants in Eldora organized the Committee of 100 for establishing the Community Sports Club, a not-for-profit sports organization for local youth. Each of the committees 100 members contributed $1,000 toward the clubs capital and, in turn, received a participation certificate. In addition, each participant agreed to pay dues of $200 a year for the clubs operations. All dues have been collected in full by the end of each fiscal year ending March 31. Members who have discontinued their participation have been replaced by an equal number of new members through transfer of the participation certificates from the former members to the new ones. Following is the clubs trial balance for April 1, 20X2:

	Debit	Credit
Cash	$ 9,000
Investments (at market, equal to cost)	58,000
Inventories	5,000
Land	10,000
Building	164,000
Accumulated DepreciationBuilding		$ 130,000
Furniture and Equipment	54,000
Accumulated DepreciationFurniture and Equipment		46,000
Accounts Payable		12,000
Participation Certificates (100 at $1,000 each)		100,000
Cumulative Excess of Revenue over Expenses		12,000
Total	$ 300,000	$ 300,000

Transactions for the year ended March 31, 20X3, follow:

Collections from participants for dues	$ 20,000
Snack bar and soda fountain sales	28,000
Interest and dividends received	6,000
Additions to voucher register:
House expenses	17,000
Snack bar and soda fountain	26,000
General and administrative	11,000
Vouchers paid	55,000
Assessments for capital improvements not yet incurred (assessed on March 20, 20X3; none collected by March 31, 20X3; deemed 100% collectible during year ending March 31, 20X4)	10,000
Unrestricted bequest received	5,000

Adjustment Data:

Investments are valued at market, which totaled $65,000 on March 31, 20X3. There were no investment transactions during the year.

Depreciation for year:

Building	$ 4,000
Furniture and equipment	8,000

Allocation of depreciation:

House expenses	$ 9,000
Snack bar and soda fountain	2,000
General and administrative	1,000

Actual physical inventory on March 31, 20X3, was $1,000 and pertains to the snack bar and soda fountain.

Required:

Record the transactions and adjustments in journal entry form for the year ended March 31, 20X3.

Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field