The Following Events Are for South City Shelter, a Voluntary

question 46

Essay

The following events are for South City Shelter, a voluntary health and welfare organization that provides emergency shelter and health care for the homeless, as well as educational programs:
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a.A fund-raising program for a portable medical clinic yielded cash contributions of $50,000 and pledges of $100,000.In the past, 5% of pledges have been shown to be uncollectible.​
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b.A note for $100,000 was signed to finance the remaining cost of the clinic.​
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c.The mobile clinic and support materials were purchased for $240,000.​
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d.A note payment of $5,000 and $1,500 in interest was paid for the note in part (c).​
Required:
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Record the necessary journal entries.

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Definitions:

Kid

Informally, refers to a child or young person; can also denote a young goat.

Friendships

Social bonds between individuals based on mutual affection, trust, and support.

Older Adults

Individuals typically aged 65 years and over, often experiencing various physical, social, and psychological changes.

Long-Term Friends

Individuals with whom one maintains a friendship over many years, often characterized by deep understanding and mutual support.