1. Taylor Woodley spent 50 hours building a pavilion behind the office of a private not-for-profit entity. Woodley normally charges $30 per hour but did this work for free. How should the private not-for-profit entity record this?

1. Increase the fund balance by $1,500
2. Increase assets and contribution revenue by $1,500.
3. Increase expenses and contribution revenue by $1,500.
4. Nothing should be recorded because the entity did not pay Weatherly.