Journal Entries for the following

1. A nongovernmental VHWO receives $20,000 of unconditional promises to give with no donor-imposed restrictions. Of this amount, $14,000 is due during the current period and $6,000 is due in the next period. The organization estimates that 3 percent of the pledges will be uncollectible

2.A nongovernmental VHWO receives a $200 cash gift that is restricted for use in a project to provide immediate assistance to qualified people with temporary hardships. Money is given to a qualified individual during the same period.

3.The Uptown Restaurant donated restaurant equipment to the Food Kitchen, a nongovernmental VHWO. The equipment had a fair value of $6,000 and a remaining useful life of four years, with no scrap value. No restrictions were imposed on the use of the equipment, either by the Uptown Restaurant or the Food Kitchen.

4.A donor contributed $8,000 to a homeless shelter that was restricted to the purchase of a new truck. The money was invested in a CD that pays 5 percent interest. Accrued interest on the investment totaled $215 at year-end. The income from the investment was also restricted for the purchase of a truck.

5.Orleans Community College assessed its students $750,000 tuition for the 2016 fall term. The college estimates bad debts will be 1 percent of the gross assessed tuition. Orleanss scholarship program provides for tuition waivers totaling $65,000. Because of class cancellations, $15,000 is refunded to the students.

6.our State University received donations of $3 million in 2016 that were restricted to certain research projects on the feasibility of growing tobacco for pharmaceutical uses. The university incurred $1.2 million of expenses on this research in 2016.