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For each of the following unrelated transactions, record the journal entry that would be made by a nongovernmental, not-for-profit organization involved in medical research. Note:
For each of the following unrelated transactions, record the journal entry that would be made by a nongovernmental, not-for-profit organization involved in medical research. Note: Do not use commas, decimal points or dollar signs in monetary answers. For negative numbers, use a minus sign "." 1. The organization received $15,000 in cash contributions. Or that amount, $10,000 is to be used for medical research. The organization received pledges of $70,000 for its endowment fund. All pledges wil be collected next year. The oreanization paid medical research operating expenses of $5,000 that were related to contributions it had received in prior years for this purpose. 4. The organization sponsored a pot-luck supper to raise funds for medical research. Direct costs of the event were $700 and the event raised cash contributions of 52.400 . For each of the following unrelated transactions, record the journal entry that would be made by a nongovernmental, not-for-profit organization involved in medical research. Note: Do not use commas, decimal points or dollar signs in monetary answers. For negative numbers, use a minus sign "." 1. The organization received $15,000 in cash contributions. Or that amount, $10,000 is to be used for medical research. The organization received pledges of $70,000 for its endowment fund. All pledges wil be collected next year. The oreanization paid medical research operating expenses of $5,000 that were related to contributions it had received in prior years for this purpose. 4. The organization sponsored a pot-luck supper to raise funds for medical research. Direct costs of the event were $700 and the event raised cash contributions of 52.400
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