Exerclse $14\mathrm{.}23($Statlc$)$ Recording Revenue and Related Expense Transactions $[$LO $14\mathrm{.}3]$

The Shannon Community Kitchen provides hot meals to homeless and low$-$income Individuals and families; it is the organization's only

program. It is the policy of the kitchen to use restricted resources for which the purpose has been met before resources without donor

restrictions. The Kitchen had the following revenue and expense transactions durling the $2023$ fiscal year.

Cash donations without donor restrictions of $$25,000$ were recelved. A philanthropist also contributed $$3,000,$ which was to be

used for the purchase of Thanksgiving dinner foodstuffs.

A local grocery store provided fresh produce with a falr value of $$100.$ The produce was immedlately used.

Volunteers from the local unlversity contributed $100$ hours to preparation and serving of meals. The estimated falr value of their

labor was $$750.$

The Kitchen recelved a $$5,000$ federal grant for the purchase of Institurtional kitchen appliances.

A local foundation gave the Kitchen $$6,000$ to support serving hot meals next year. The money is to be returned to the foundation if

the Kitchen does not serve at least $4,000$ meals next year.

At Thanksglving time, the Kitchen spent $$4,100$ on foodstuffs for preparation of the Thanksglving dinner.

Required

Prepare journal entrles to record these transactlons. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry

Required" in the first account field.$)$

Journal entry worksheet

Record the receipt of $$25,000$ cash donations without donor restrictions. A

philanthropist also contributed $$3,000,$ which was to be used for the purchase

of Thanksgiving dinner foodstuffs.

Nate: Enter debits before credits.