Towne Center Art Museum received the following contributions in 2020. Prepare journal entries to record these events and any year-end adjusting entries resulting from these events.

1. Unrestricted pledges of support were received in the amount of $134,000. All of these are due within the year and it is estimated that 7% will ultimately prove to be uncollectible.
2. 1,300 Memberships were sold to the public in the amount of $50 each. Membership provides the individual with a monthly magazine and other benefits. The estimated fair value of member benefits is $25. The member year runs from July 1 to June 30.
3. A local carpenter donated supplies and labor with values of $34,000 and $7000 (respectively) to construct a new exhibition area. Fixed assets are classified as unrestricted net assets.
4. On March 1, 2020 a local businessman made a pledge payable in a future period. The pledge is restricted in purpose and has a present value of $140,000 (effective interest rate of 8%).