The following are selected transactions for Lakeview Cooperative which uses the restricted fund method. Lakeview has an operating fund, a capital fund and an endowment fund:

1. Pledges amounting to $550,000 were received, of which $75,000 applies to the operations of the following year. It is estimated that 3% of the pledges will be uncollectible.
2. A former resident who became a successful businessperson, donated $80,000 to be held in an endowment. Interest on the endowment is unrestricted.
3. The association purchased furniture and fixtures at a cost of $14,000. These purchases were made using operating funds.
4. Pledges of $350,000 were collected, while pledges amounting to $5,500 were written off as uncollectible.
5. A local newspaper agreed to offer Lakeview a full-page ad. This had an estimated value of $1,500.
6. Interest and dividends received amounted to $8,000 on endowment fund investments.
7. Amortization for the year amounted to $20,000.

Required:

Prepare journal entries to record the above transactions. Also, indicate which fund will be used for each entry