Pet City is a not-for-profit entity that cares for dogs until they are adopted. It uses a UCF (Unrestricted Current fund), an RCF (Restricted Current Fund), and an EF (Endowment Fund). It charges its expenses to the care of animals program, special programs, and administrative expenses. Following are some of its transactions for 2018.

1. During the year, Pet City received unrestricted pledges of $100,000. 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 the gift, and any gains on the sale of the stock, should be maintained in perpetuity and that the dividends received on the investment could be used for any purpose.

3. Volunteers contributed their time to Pet City as follows: a. Dr. D, a veterinarian, spent 10 days caring for the medical needs of the dogs. Those services would normally cost Pet City $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.Pet City 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, Pet City collected $80,000 in cash on the pledges made in transaction 1.

7.Pet City spent $3,000 on the special program designed to take calm dogs to visit elderly people.

8.Pet City paid the following expenses: Care of animals $40,000, Administrative expenses $30,000

9.Cash gifts of $12,000 were received from various donors who stipulated that the resources must be used in 2019. Prepare the journal entries needed to record these transactions; also, indicate the fund used for each entry.

CR Fund 1. XXX DR Contributions receivable XXXXXX Allowance for uncollectible contributions Unrestricted support - contributions XXXXXX XXXXXX 2.a. XXX XXXXXX Investments Unrestricted support - contributions XXXXXX 2.b. XXX Cash XXXXXX Temporarily restricted support - contributions XXXXXX 2.c. XXX Investments XXXXXX Permanently restricted support - contributions XXXXXX 3.a. XXX XXXXXX Care of animals expense Unrestricted support - donated services XXXXXX 3.b. No entry (The services do not require specialized skills.) 4. XXX Cash XXXXXX Unrestricted revenue - investment income XXXXXX XXX Cash XXXXXX Unrestricted revenue - investment income XXXXXX 5. XXX Investments XXXXXX Unrestricted gains and losses net unrealized and realized investment gains and losses XXXXXX XXX Permanently restricted gains and losses - net unrealized and realized investment gains and losses XXXXXX Investments XXXXXX 6. XXX Cash Contributions receivable XXXXXX XXXXXX 7. XXX Temporarily restricted asset reclassifications out- satisfaction of program restrictions XXXXXX Cash XXXXXX XXX XXXXXX Special programs expense Unrestricted asset reclassifications in - satisfaction of program restrictions XXXXXX 8. XXX Care of animals expense Administrative expenses Cash XXXX XXXXX XXXXXX 9. XXX Cash XXXXXX Temporarily restricted support - contributions XXXXXX