At the beginning of the year, Homeless Health Services, a health and welfare not-for-profit entity, had the following Net Assets balances:

Net Assets:

Without donor restriction $900,000

With donor restriction $280,000

During the year a number of transactions occurred. Prepare journal entries for the transactions. Then, calculate the ending balance of the organization's two categories of net assets.

1. Major donors promised contributions of $140,000 to be paid in cash within thirty days (before the end of the year) that are to be used as determined by the Board of Directors.

2. Salaries of $35,000 are paid with $10,000 of that amount coming from restricted funds.

3. Equipment is bought for $105,000 by signing a long-term note for $60,000 and using restricted funds for the remainder.

4. A promise is received for a contribution of $92,000 that will be collected in three years.Present value is $77,000.

5. A donor gives $12,000 to the charity with instructions that the Board of Directors should decide on some other not-for-profit to eventually receive the money. The donor did not decide what specific not-for-profit should benefit.

6. Depreciation of $18,000 on the entity's equipment is recorded.

7. Interest of $50 and principal of $2,000 is paid on the note previously signed when the equipment was purchased.

8. A donor gives an investment worth $200,000 that must be kept invested forever, but any interest or dividends can be used for any legitimate purpose of the entity.

9. Membership dues are received in the amount of $10,000.

10. Investment income of $1,400 is generated from the investment received in item (8) above.