E13.6 Hopeville Retreat is a private not-for-profit organization that counsels Recognition of Donations former drug addicts in readjusting to productive community life. Donations provide the major support for Hopeville Retreat. During 2016, the following gifts were received: LO 2 1. Cash from the semiannual fund-raising campaign, $4,000,000 2. Cash donations from rehabilitated clients, $100,000 3. Clothing donated by a department store. Cost to the store was $5,000; market value was $7,000 4. A flat-screen television, valued at $800, donated by a friend of the Retreat. 5. Medication, donated by a pharmaceutical company. Cost of the medication was $3,000; market value was $5,000 Accounting services for necessary paperwork and record-keeping performed by a CPA, valued at $7,000 Door-to-door fund solicitation time donated by high school students, as part of their school com- munity service requirement. Their time is estimated to be worth $2,800 when valued using minimum wage rates Free radio announcements of the fund-raising campaign given by a local radio station. The normal charge for advertisements of comparable length is $1,000. 6. 7. 8. Required For each item, indicate at what amount the donation is recorded on the books of Hopeville Retreat, and where it would appear in its statement of activities E13.6 Hopeville Retreat is a private not-for-profit organization that counsels Recognition of Donations former drug addicts in readjusting to productive community life. Donations provide the major support for Hopeville Retreat. During 2016, the following gifts were received: LO 2 1. Cash from the semiannual fund-raising campaign, $4,000,000 2. Cash donations from rehabilitated clients, $100,000 3. Clothing donated by a department store. Cost to the store was $5,000; market value was $7,000 4. A flat-screen television, valued at $800, donated by a friend of the Retreat. 5. Medication, donated by a pharmaceutical company. Cost of the medication was $3,000; market value was $5,000 Accounting services for necessary paperwork and record-keeping performed by a CPA, valued at $7,000 Door-to-door fund solicitation time donated by high school students, as part of their school com- munity service requirement. Their time is estimated to be worth $2,800 when valued using minimum wage rates Free radio announcements of the fund-raising campaign given by a local radio station. The normal charge for advertisements of comparable length is $1,000. 6. 7. 8. Required For each item, indicate at what amount the donation is recorded on the books of Hopeville Retreat, and where it would appear in its statement of activities