Prepare journal entries based upon the following transactions for the "Just Do It$"$ Not for profit organization.

a The "Just Do It$"$ organization hosted its annual fundraiser and received pledges of $$980$k in contributions. Historically, they've collected $96\%$ of what is promised. They do NOT utilize the direct write off method.

b

The "Just Do It$"$ organization awarded $$200,000$ to students that met the exact specifications for satisfying restrictions from previously received contributions

and awarded an additional $$260,000$ to students that did not meet the restricted revenue criteria. All of the scholarships were scheduled to be paid the

following year.

c The "Just Do It$"$ organization received $$899,000$ of the contributions in item $($a$).$ They wrote off the balance.

Part A: Prepare in good form the following journal entries:

General Journal