The Blair Museum Association, a nonprofit organization, had the following transactions for the year ended December 31, 2017 1 Cash contributions to the Association for the year included (a) unrestricted $970.000 (b) ed for traveling displays, $250000: (c) restricted by the donor for endowment purposes $1,400.000, and (d) restricted by the donor for museum security equipment $450 000 2 Additional unrestricted cash receipts included (a) admission charges, $365,000: (b) interest income, $210.000, and (c) tuition for museum school, S70.000 ors made pledges in 2017 in a pledge drive specifically for funds to be used in 2018 The amount was $400,000 4. A multiyear pledge (temporanily restricted) was made at the end of the year by a private foundation. The foundation pledged 550 000 per year for the next five years (at the end of each year) The present value (rounded) of those future payments is $211.000, using a 6 percent discount rate 5. Expenses associated with the traveling display program amounted to $230000 and were paid in cash before year-end 6. The Museum collected pledges receivable from the previous year of $135,000 Although not restricted in purpose, the revenue (last year) had been classified as time restricted because collection was not scheduled until 2017 7. The Museum purchased security equipment for S575000 (cash) The Museum Association records all equipment in the unrestricted class of net assets 8. In addition to the amount expended in transaction 5, expenses (paid in cash) amounted to (a) museum displays, $1.,300.000. (b) museum school, $85000 (c) management and general, S350,000, (d) fund-raising, $250,000, and (e) membership development, $145,000 9. Deprecialion on museum fixed assets amounted to (a) $40,000 for museum displays, (o) 57,000 for museum school, (c) $12 000 for management and general, (d) $4.000 for fund-raising and (e) $4,000 for membership development Required a Prepare journal entries to record these transactions, including closing entries Statement of Activities for the Blair Museum Association for the year ended December 31, 201 Use the format in the text. The beginning net asset balances were unrestricted $412.000 Prepare a