The following transactions occurred during the fiscal year ended February 28, 2025. 1. Fees were billed as follows: 2. $38,310 of the Grant Receivable was received. Another grant in the amount of $18,610 was promised. 3. Contributions in the amounts summarized below were received: 4. Investment income totaled $73,370 for the year. Liabilities and Fund Balances Current Liabilities 3. 4. 5. 6. 7. 8. (To release funds from restricted into unrestricted assets) (To receive funds into unrestricted Prepare journal entries to record the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) 5. Vouchers for the year were approved as follows: 6. During the year, $539,300 worth of vouchers were paid. Adjustment Data 7. Accounts Payable and Accrued Expenses at February 28, 2025, should be $191,250. The difference should be allocated to the following expenses: from restricted assets) 9. 10. 11. 8. Additions to the research library in the amount of $66,740 that were approved in (5) above were made in accordance with the terms of a contribution that had been received earlier and that was restricted for that purpose. 9. The current market value of the investments is $1,024,060 (no investment transactions occurred). 10. Depreciation amounted to $8,922 for the year. It should be allocated as follows: 11. Prepaid Expenses should be $63,899. The difference should be allocated to: Expenses Program Services Circulating Library Research Library Exhibits Community Services Total Supporting Services General and Administrative Fund raising Total Total Expenses Increase (decrease) in Net Assets Fund Balances-Beginning of Year Fund Balances - End of Year $208,000 91,000 22,000 11,000 332,000 172,000 107,000 $279,000 $0$2,000 1,595,000 0$72,000 Liabilities and Fund Balances