Prepare in General Journal Form the Entries Required for Each

question 1

Essay

Prepare in general journal form the entries required for each of the following selected transactions of Northern University,a state-funded public institution engaged only in business-type activities.Some of these transactions are related and some are not.
1)A generous alumnus donated $300,000 that can only be used for research on diabetes.The full $300,000 was received in FY 2014.
2)During FY 2014,expenses of $150,000 were made in cash for diabetes research (see item 1 above).
3)$2,000,000 in long-term bonds was issued to construct a new parking garage on campus.
4)During FY 2014,the parking garage (see item 3 above)was partially completed at a total cash expenditure of $1,800,000.
5)During 2014,interest was paid in the amount of $120,000 on the long-term bonds issued for the parking garage project (see item 3 above).

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Definitions:

Motor Cortex

The region of the cerebral cortex involved in the planning, control, and execution of voluntary movements.

Frontal Lobes

Regions of the brain implicated in executive functions, including planning, impulse control, and emotional regulation.

Voluntary Movement

Movement that is consciously controlled by the brain, involving coordination and intention.

Corpus Callosum

The bundle of nerve fibers connecting the two cerebral hemispheres.