The Evangelical Private School follows FASB standards of accounting and reporting. 1. Cash contributions were received as follows: (a) $977,000 for any purpose desired by the school. (b) $306,500 designated by donors for salary supplements for school faculty. (c) $433,000 designated by donors to be used during the next fiscal year in any manner desired by the school, (d) $574,000 designated by donors for the construction of a new auditorium, and (e) $428,000 designated by donors to be invested permanently, with the income to be used as desired by the school . The school's policy is to record all restricted gifts as with donor restrictions and then reclassify when the restriction is lifted. 2. The school expended $360,000 of the $977,000 mentioned in 1(a) for school furniture. 3. The school expended the $285,850 for salary supplements as directed by the donor in 1(b). 4. The $433,000 in 1(c) was retained for use next year, as directed by the donor. 5. $754,000 was expended for the construction of the new auditorium, 6. The $428,000 mentioned in 1e) was invested permanently, as directed by the donor, and in the year ended June 30, 2020, the school received interest of $20,330, none of which was expended. Record Journal entries for the above transactions during the year ended June 30, 2020. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 8 13 Record the entry for cash contributions received without donor restrictions. Note: Enter debits before credits General Journal Debit Credit Transaction 1a