The OPI Long Term Care Centre is an NFPO funded by government grants and private donations. It prepares its annual financial statements using the deferral method of accounting for contributions, and it uses only the operations fund to account for all activities. The following summarizes some of the transactions made for the year ended March 31. Year 6: 1. The founding member of OPI contributed $200.000 on the conditions that the principal amount be invested in marketable securities and that only the income earned from the Investment is spent on operations. 2. During the year, a public campaign was held to raise funds for dally operations for the current year. Cash of $900,000 was collected, and pledges for an additional $100.000 were received by the end of the year. It is estimated that approximately 95% of these pledges will be collected early in the new year. 3. The provincial government pledged $600.000 for the year to cover operating costs and an additional $950,000 to purchase equipment and furniture. All of the grant money was received by the end of the year, except for the last $50,000 to cover operating costs for December 4. OPI used the $950.000 received from the provincial government to purchase equipment and furniture for the care facility. The amortization of these assets amounted to $90,000 for the year. 5. Residents of the facility are charged a fee based on their ability to pay. One resident paid $30,000 on January 1. Year 6 to cover his fee for the entire calendar year. 6. Invoices totalling $1,450.000 were received for goods and contracted services. Of these invoices. 90% were paid by the end of the fiscal year. Required: In accordance with the requirements of the CPA Canada Handbook, prepare the journal entries necessary to reflect the transactions. (If no entry is required for a transaction/event, select "No Journal entry required" in the first account field.) In accordance with the requirements of the CPA Canada Handbook, prepare the journal entries necessary to reflect the transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No General Journal Credit Transaction 1. Debit 200,000 . Cash 200.000 Net assets No journal entry required 2 . B Cash Pledge receivable Donation revenue OOOO 900,000 95,000 slo 995,000 o 3. Cash Operating grant receivable Deferred contribution revenue Operating grant receivable 1,500,000 50,000 OOO 950,000 600,000 D 4a 950,000 Equipment and furniture Cash 950,000 E 4b. 95,000 $ Amortization expense Accumulated amortization 95,000 F 40. Deferred fee revenue X 95,000 Fee revenue x 95,000 G 5. 30,000 Cash Deferred fee revenue OOI 30,000 x Ic + 1 non Ic