Question

Record the following transactions in the accounts of a nongovernment VHWO or ONPO.
1. Purchased supplies on account, $50,000.
2. Used supplies costing $40,000.
3. Purchased equipment costing $16,000, using donor-restricted resources.
4. Issued $1,000,000 of bonds at par.
5. Sold land that had cost $33,000 for $45,000.
6. Received interest earned on investment of donor-restricted resources, $6,000. The donor did not specify that the interest income be used for the same purpose stipulated for the principal of the gift, but the organization traditionally has done so and plans to in this case.



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  • CreatedOctober 25, 2014
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