The New museum received a $900 contribution from a patron who required that the gift be used to acquire additional works of art. The New Museum elects not to capitalize its art collection (as long as it satisfies the FASB conditions that allow for this choice). The New Museum purchased a Painting for $900 shortly. How does the New Museum record this transaction? in a fund restricted by donors Dr. Cash $900 Cr. Revenue from restricted contributions $900 Dr. Net assets released from restriction $900 Cr. Cash $900 in a fund without donor restrictions: Dr. Expense - Acquisition of art $900 Cr. Net assets released from restrictions $900 in a fund restricted by donors Dr. Cash $900 Cr. Revenue from restricted contributions $900 Dr. Expense - Acquisition of art $900 Cr. Cash $900 in a fund not restricted by donors Dr. Cash $900 Cr. Revenue from restricted contributions $900 Dr. Expense - Acquisition of art $900 Cr. Cash $900 in a fund restricted by donors Dr. Cash $900 Cr. Revenue from restricted contributions $900 Dr. Painting $900 Cr. Cash $900