The QIN Care Centre is an NFPO funded by government grants and private donations. It prepares its annual financial statements using the restricted fund method of accounting for contributions. State in which fund each journal entry will be recorded. The following summarizes some of the transactions made in Year 6:

a) on March 1, QIN Care Centre used the funds received from the provincial government to purchase machinery for the facility. The useful life of the machinery was 5 years, no residual value.

b) On May 1, a number of local wealthy families donated marketable securities valued at $50,000 with the condition that the principal amount cannot be spent and the income earned from the investment be spent on operations. A return of 10% was earned and received by year-end.

c) The provincial government pledged $600,000 for the year to cover operating costs and an additional $1,000,000 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.

d) On June 1, a corporation donated land with a fair value of $10,000.

e) Office furniture costing $1,000 was purchased with operating/general fund cash.

f) During the year, a public campaign was held to raise funds for daily operations for the current year. The campaign raised a total of $500,000. Of that amount, $100,000 was received in cash and the remainder in pledges. Past experience suggests that 20% of the pledges will not be collected in the new year.

g) Prepare any adjusting journal entries for QIN Care Centre relating to the above transactions assuming a December 31 year-end.

h) What journal entry would QIN Care Centre make for the donation of land if they did not have a capital fund and accounted for the donation using the deferral method of accounting? Prepare the entry.