lliilltidL'llUll 4. HSSUIHB llltlL d llUllplUllt lliib' d IIBBU IUI :DGU,UUU IUI d pisllLllu'Llldl HEW llltllKl-Jllllu expenditure (and that the organization has received donations restricted for this purpose), and a for-profit entity needs to raise an additional $80,000 to pay for some unanticipated marketing expenses. How would the journal entities look at the acquisition of the funds and the subsequent spending of the funds? Transaction 3: The forprofit entity sells $120,000 with net 30day terms, while the nonprofit entity has a fund raising drive for which they receive pledges of $120,000. How do the two journal entries look? Instructor Comments: In this individual project assignment, make sure you put yourjournal entries in a properjournal entry format and make sure you specifically indicate which journal entry is for the nonprofit company and which journal entry is for the forprofit entity. Remember that when you release resources from restrictions that is a 2-step process