Required: Record the following transactions on the books of Hope Hospital, which follows FASB (not-for-profit) and AICPA standards. The year is 2020. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account fleld.) 1. Hope received $36,000 in cash from pledges made in the previous year that were unrestricted as to purpose but Intended to be received and expended in 2020. 2. Hope received $94,000 in pledges that Indicated the money would be received in 2021. The donors Imposed no restrictions other than it could be used for any purpose desired by the board. 3. Hope expended $43.000 for nursing training, using $37,000 of donor restricted resources received in 2019 for that purpose. 4. On June 15, 2020, Hope was awarded a $54,000 grant for cancer research by the U.S. Department of Agriculture. During 2020, Hope had qualified expenses under the grant totaling $37,000. This is cost relmbursement, grant. 5. Hope received $272,000 in cash. The board decided to invest the funds for future plant expansion. Answer is not complete. No Transaction General Journal Debit Credit 1 1a 36,000 Cash Pledges Receivable 38,000 N 1b 38.000 Reclassifications from Net Assets with Donor RestrictionsExpiration of Time Restrich 38.000 3 02 94,000 Pledges Receivable Nonoperating Revenues-Without Donor RestrictionsContributions 94.000 4 3a 43.000 Operating Expense-Nurse Training Cash 43.000 5 3b Reclassifications from Net Assets with Donor RestrictionsExpiration of Time Restrictio 37.000 Reclassifications from Net Assets with Donor RestrictionsSatisfaction of Program R 37.000 8 4a Cash 54,000 X x x Nonoperating Revenues-Without Donor RestrictionsContributions 54,000 X 7 4b 54,000 Cash Revenues-With Donor Restrictions Contributions 54,000 X 8 4c Cash 54.000 x x x Revenues-With Donor Restrictions Contributions 54,000 X 9 5a Cash 272.000 Nonoperating Revenues-Without Donor RestrictionsContributions Xolol 272.000 Contribution Revenue US DOA Grant-Without Donor Restrictions 10 5b > 272.000 Investments-Assets Limited as to Use Net Assets Without Donor RestrictionsDesignated by Board for Future Plant Expad Cash 272.000 > 7 4b 54,000 X Cash Revenues-With Donor Restrictions Contributions 54,000 8 40 Cash 54,000 X X RevenuesWith Donor RestrictionsContributions 54,000 9 5a Cash 272.000 ON Nonoperating Revenues-Without Donor RestrictionsContributions 272.000 Contribution Revenue US DOA Grant-Without Donor Restrictions 8 10 5b Investments-Assets Limited as to Use 272.000 Net Assets Without Donor RestrictionsDesignated by Board for Future Plant Expax 272.000 Cash 11 5c Net Assets-Without Donor RestrictionsUndesignated 272.000 Net Assets-Without Donor RestrictionsDesignated by Board for Future Plant Expa 272,000
