1. A private NFP organization receives the following donations:

1. A donor contributes $3,000 cash, with no restrictions or conditions.
2. An electrician provides services valued at $10,000 to modernize the ministrys wiring and heating.
3. An accountant provides payroll services valued at $4,000.
4. Volunteers provide services valued at $1,000 in warehousing and delivering foo
5. A donor signs an agreement promising to contribute cash in three years. The present value of the donation is $50,000.
6. A donor contributes a delivery van, valued at $14,000, with no restrictions as to use.
7. A donor contributes $25,000 in cash, specifying that it be used to support nutritional programs open to the community.

Using the attached T-account template, prepare the necessary entries.

Net Assets ASSETS Property. Plant & Equipment Investments Intangible Assets/Other LIABILITES Current Non-Current Liabilities Liabilities Current Assets Without Donor Restriction With Donor Restriction