For Each of the Following Unrelated Transactions,record the Journal Entry

question 5

Essay

For each of the following unrelated transactions,record the journal entry that would be made by a nongovernmental,not-for-profit organization involved in medical research.If no journal entry is recorded,explain why there is no journal entry.
a.The entity received $1,500 in cash contributions.Of that amount,$1,000 is to be used for medical research.
b.The entity received pledges of $700,000 for its endowment fund.All pledges will be collected next year.
c.The entity received donated services of $1,200 from medical researchers who helped with the entity's on-going drug development research.It also received $300 in donated services from students,who helped clean the research facilities.
d.The entity paid medical research operating expenses of $5,000 that were related to restricted net assets it had received in prior years.

---

Definitions:

Epinephrine Levels

The concentration of epinephrine, a hormone and neurotransmitter also known as adrenaline, in the bloodstream, affecting bodily responses to stress.

Prolonged Stressors

Continuous or recurring challenges and pressures that persist over an extended period, impacting an individual's well-being.

Major House Remodel

A significant modification or renovation of a home, involving major construction or reconfiguration of its layout and structure.

Living in War Zone

The experience of residing in an area where armed conflict is occurring, which can have significant psychological and physical impacts on individuals and communities.