Snowflake Community Symphony Orchestra had the following transactions for the year:

1. A fund drive raised $210,000 cash and $150,000 in pledges that will be paid within one year.
2. A business donated rent-free space for the organization that would typically rent for $48,000 per year.
3. Volunteers contributed $20,000 of their time to help with mailing materials, answering phones, and other clerical functions.
4. Salaries and fringe benefits of $224,600 were paid during the year, and an additional $14,200 of salaries and fringe benefits were accrued.
5. The Symphony incurred the following expenses during the year: Utilities - $4,700; Supplies - $5,250; and telephone $9,600. There were no supplies at the end of the year, and accounts payable of $3,400 remained on the books.

Part A Deliverable:

In an Excel Spreadsheet prepare journal entries to record the transactions. Label each entry clearly and use Excel formulas for all calculated numbers.

Part B:

1. What criteria must be met before a not-for-profit organization can record donated services?
2. If the criteria are met, how should donated services be recorded? Give examples to support your answer.