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Using funds restricted for this purpose, the college purchased $150,000 of equipment for intercollegiate athletics. Intercollegiate athletics is accounted for as an auxiliary enterprise. The

Using funds restricted for this purpose, the college purchased $150,000 of equipment for intercollegiate athletics. Intercollegiate athletics is accounted for as an auxiliary enterprise. The college charged depreciation of $30,000. What are the journal entries?

Also, the annual alumni campaign yielded $1,800,000 in pledges. The college estimated that 2 percent would be in collectible. During the year the college collected $1,500,000 on the pledges. What are the journal entries?

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