A capital asset (equipment) with a fair value of $1,500,000 and a remaining useful life of ten years and land with a fair value of $2,000,000 is donated to a not-for-profit organization. The organization will use the equipment in its operations. 

Required:

Prepare the journal entries (including amortization) if the organization uses the:

1. the deferral method for contributions.

2, the restricted fund method with a capital fund.