Q. 9 - Please answer in the journal entry format below.

Sunland Library, a nonprofit organization, presented the following statement of financial position and statement of activities for its fiscal year ended February 28,2024. The following transactions occurred during the fiscal year ended February 28, 2025. 1. Fees were billed as follows: 2. $40,670 of the Grant Receivable was received. Another grant in the amount of $18,430 was promised. 3. Contributions in the amounts summarized below were received: 4. Investment income totaled $68,310 for the year. 5. Vouchers for the year were approved as follows: 6. During the year, $520,000 worth of vouchers were paid. Adjustment Data 7. Accounts Payable and Accrued Expenses at February 28, 2025, should be $192,610. The difference should be allocated to the following expenses: purpose. 9. The current market value of the investments is $1,038,630 (no investment transactions occurred). 10. Depreciation amounted to $9,193 for the year. It should be allocated as follows: 11. Prepaid Expenses should be $61,844. The difference should be allocated to: for the amounts.) No. Account Titles and Explanation 1. 2. (To record grant received) (To record grant promised) Debit Credit 6. 7. 8. (To release funds from restricted into unrestricted assets) (To receive funds into unrestricted from restricted assets) 9. 10. 11