Record the transactions below for the Y, a nonprofit organization that uses accrual accounting. Record the transactions needed for the 2020 calendar year. Be sure to identify the balance sheet categories and accounts used in each transaction. Attach a spreadsheet to show your work. a. On January 1, 2020, the Y acquired gym equipment costing $250,000 for cash. The equipment has an expected life of 5 years with a residual value of 20%. The Y uses straight-line depreciation. b. On January 1, 2020, the Y sent membership-renewal notices to all of its existing members. If all of the members renewed the Y would receive $500.000. Historically, 10% of members do not renew and will not pay the bill. The Y recognizes all membership revenue when members are billed. c. On April 1, 2020, the Y paid $50,000 for expenses related to its annual fund-raising drive. d. On April 1, 2020 the Y conducted its fundraising drive and received $150,000 in cash donations. e. On July 12, 2020 the Y purchased $120.000 worth of supplies and paid its suppliers $135.000. f. On August 20, 2020 the Y collected $250,000 that was owed to them for fiscal year 2019 membership renewals. g. Through December 31st the Y used $150.000 worth of supplies. g Record the transactions below for the Y, a nonprofit organization that uses accrual accounting. Record the transactions needed for the 2020 calendar year. Be sure to identify the balance sheet categories and accounts used in each transaction. Attach a spreadsheet to show your work. a. On January 1, 2020, the Y acquired gym equipment costing $250,000 for cash. The equipment has an expected life of 5 years with a residual value of 20%. The Y uses straight-line depreciation. b. On January 1, 2020, the Y sent membership-renewal notices to all of its existing members. If all of the members renewed the Y would receive $500.000. Historically, 10% of members do not renew and will not pay the bill. The Y recognizes all membership revenue when members are billed. c. On April 1, 2020, the Y paid $50,000 for expenses related to its annual fund-raising drive. d. On April 1, 2020 the Y conducted its fundraising drive and received $150,000 in cash donations. e. On July 12, 2020 the Y purchased $120.000 worth of supplies and paid its suppliers $135.000. f. On August 20, 2020 the Y collected $250,000 that was owed to them for fiscal year 2019 membership renewals. g. Through December 31st the Y used $150.000 worth of supplies. g