P13-37. (Journal entries for a nonprofit) Oliver's Place is a nonprofit entity that cares for dogs until they are adopted. It uses fund accounting and uses a UCF, an RCF, and an EF. It charges its expenses to the care of animals program, special programs, and administrative expenses. Following are some of its transactions for 2018. Prepare the journal entries needed to record these transactions, indicating the fund used for each entry and showing net asset classifications, where appropriate. (You can check the accuracy of your work by preparing trial balances and comparing them with the trial balances in Problem P13-38.) 1. During the year, Oliver's Place received pledges of $100,000 without donor restrictions. It estimated that 95 percent of the pledges would be collected in cash. 2. It received the following gifts from various donors: a. Donor A made a gift of common stock that had a fair value of $20,000. Donor A stated that the gift could be used for any purpose. b. Donor B made a cash gift of $5,000, stipulating that it could be used only for a new program to take calm dogs to visit elderly people. c. Donor C made a gift of common stock that had a fair value of $50,000. Donor C stipulated that: (1) the gift and any gains on the sale of the stock should be maintained in perpetuity and (2) the divi- dends received on the investment could be used for any purpose the trustees deemed appropriate. 3. Volunteers contributed their time to Oliver's Place as follows: a. Dr. D, a veterinarian, spent 10 days caring for the medical needs of the dogs. Those services would normally cost Oliver's Place $10,000. b. Dr. E, a kidney surgeon, spent 12 days feeding the dogs, keeping them occupied, and placing them for adoption. He earns $2,000 a day as a surgeon. 4. Oliver's Place received dividends of $400 on the common stock donated by Donor A and $600 on the common stock donated by Donor C. 5. At year-end, the stock donated by Donor A had a fair value of $22,000, and the stock donated by Donor C had a fair value of $47,000. 6. During the year, Oliver's Place collected $80,000 in cash on the pledges made in Transaction 1. 7. Oliver's Place spent $3,000 on the special program designed to take calm dogs to visit elderly people. 8. Oliver's Place paid the following expenses: Care of animals ......... Administrative expenses............ $40,000 30,000 9. Cash gifts of $12,000 were received from various donors who stipulated that the resources must be used in 2019