EastTown University, a state-funded public institution, had the following activities. Record the journal entries for EastTown, all of which are for fiscal year 2019.

1. A generous alumnus donated $600,000 in cash that can only be used for research on heart disease.
2. Expenses of $300,000 were made in cash for heart disease research.
3. EastTown issued $4,000,000 in long-term bonds to construct a new parking garage on campus.
4. The parking garage was partially completed at a total cash expenditure of $3,600,000.
5. Interest was paid in the amount of $240,000 on the long-term bonds issued for the parking garage project.