Prepare journal entries to record the following transactions of a non-government not-for-profit organization. 1. Received pledges of

Question:

Prepare journal entries to record the following transactions of a non-government not-for-profit organization.
1. Received pledges of $1,000,000; 15% are expected to be uncollectible. No collections are expected before the beginning of the next fiscal year.
2. Received cash gifts of $3,000,000, restricted for research on “killer bees.”
3. Incurred $2,200,000 of costs for killer bee research.