Journal entries for contributions to a VHWO Feed the Needy (FTN), a VHWO, has three programs: (a) providing meals for the needy in its own facility (Service to Needy program); (b) providing meals for senior citizens through a contract with the County Department for the Aging (Service to Seniors program); and (c) distributing food to other facilities in the area that serve the needy (Food Distribution program). FTN maintains a warehouse to store donated food and has cooking and serving facilities. It does not use fund accounting. Prepare journal entries to record the following transactions and events, which occurred during calendar year 2019: 1. On January 10, 2019, in response to its annual fundraising drive to finance day-to-day operations, FTN received $150,000 of cash donations and $400,000 of promises to donate cash. Based on experience, FTN expected to collect 80 percent of the promises made to donate cash, all of which are to be used to finance its activities during 2019. 2. During the year, FTN received cash of $310,000 from the promises to give (see Transaction 1) and wrote off the remaining receivables as uncollectible. 3. To meet its expanding operations, FTN determined that it needed to add storage facilities at an estimated cost of $400,000. Dr. Ted Golfit, noted research engineer, advised FTN that he would contribute $200,000, provided FTN raised an equal amount from other contributions. 4. Attorneys A. and E. Gorman provided free legal services to FTN during the year. FTN would have purchased the services for $10,000 if they had not been donated. If a transaction doesn't require a journal entry select No entry as your answer and leave the Debit and Credit answer boxes blank (zero). Ref. Description Debit Credit Cash 0 0 1 0 0 0 0 0 0 Contributions revenue-Support without donor restrictions Cash 2 0 0 0 0 Contributions revenue-Support without donor restrictions 0 0 0 0 3 0 0 0 0 4 0 0 0 0 5. FTN raised $220,000 in cash as a result of its fundraising campaign to add to its storage facilities (see Transaction 3). FTN contacted Dr. Golfit, who gave FTN a check for $200,000. 6. FTN constructed additional storage facilities at a cost of $425,000. It paid for the facilities by using $420,000 it had raised for that purpose (see Transaction 5) and by using $5,000 of its available cash without donor restrictions. 7. FTN's contract with the County Department for the Aging called for the county to make quarterly advance payments to FTN. The contract required FTN to report to the county after the end of each quarter, showing actual costs to provide food during the quarter and billing for any difference between actual costs and the advance. On January 5, 2019, FTN received a $20,000 advance payment from the county. 8. Between January and March 2019, FTN spent $23,000 in cash providing services through its contract with the county (see Transaction 7). On April 4, 2019, FTN sent an invoice to the county, showing it had spent $23,000 on the program, deducting the $20,000 advance, and requesting an additional $3,000. If a transaction doesn't require a journal entry select No entry as your answer and leave the Debit and Credit answer boxes blank (zero). Ref. Description Debit Credit 5 0 0 0 0 To record receipt of donations from fundraising campaign. 0 0 0 0 To record receipt of donation from Dr. Golfit. 6 0 0 0 0 To record satisfaction of restriction on donation. 0 0 0 0 To record payment for acquisition of storage facilities. 7 0 0 0 0 8 0 0 0 0 To record expenses incurred on contract. 0 0 Accounts receivable 0 0 0 0 To record revenues earned on contract. 9. During 2019, FTN received donations of 600,000 pounds of food from supermarkets, bakeries, and food wholesalers. FTN valued the food at $1.50 per pound, based on a national study. All donated food is initially recorded in inventory. 10. FTN distributed 540,000 pounds of food to other facilities under its Food Distribution program and used 30,000 pounds of food in its Service to Needy program (see Transaction 9). 11. Local residents donated 1,000 hours of their time serving food at FTN's facility. If the residents had not donated their time, FTN would have paid $8 an hour for the services. 12. FTN paid $200,000 to store food in its warehouse, to package and deliver food to other facilities, and to cook at its own facility. The $200,000 was charged to the following programs: Food Distribution-$175,000; Service to Needy-$25,000. If a transaction doesn't require a journal entry select No entry as your answer and leave the Debit and Credit answer boxes blank (zero). Ref. Description Debit Credit 9 0 0 0 0 10 Expenses - Food Distribution program 0 0 0 0 0 0 11 0 0 0 0 12 Expenses - Food Distribution program 0 0 0 0 0