AREA BOLD ARE INCORRECT. PLEASE LABEL REQUIRE A, PART 1

The Ombudsman Foundation is a private not-for-profit organization providing training in dispute resolution and conflict management. The Foundation had the following preclosing trial balance at December 31, 2020, the end of its fiscal year:

Trial BalanceDecember 31, 2020		Debits			Credits
Accounts payable				$	25,400
Accounts receivable (net)	$	47,200
Accrued interest receivable		16,700
Accumulated depreciation					3,512,200
Cash		118,400
Contributed services					26,500
Contributionsno restrictions					2,446,000
Contributionspurpose restrictions					796,000
Contributionsendowment					2,057,500
Current pledges receivable		81,800
Education program expenses		1,537,100
Fund-raising expenses		126,100
Investment revenuepurpose restrictions					93,700
Training seminars expenses		4,548,100
Land, buildings, and equipment		5,612,700
Long-term investments		2,743,400
Management and general expenses		402,600
Net assets without donor restrictions					496,400
Net assets with donor restrictions					2,041,000
Net gains on endowments - no restrictions					18,700
Noncurrent pledges receivable		390,200
Program service revenue - no restrictions					5,978,100
Post-employment benefits payable (long-term)					200,900
ReclassificationSatisfaction of program restrictions		267,400
ReclassificationSatisfaction of time restrictions		215,600
ReclassificationSatisfaction of program restrictions					267,400
ReclassificationSatisfaction of time restrictions					215,600
Research program expenses		1,282,700
Short-term investments		751,400
Supplies inventory		34,000
Totals	$	18,175,400		$	18,175,400

a. Prepare closing entries for the year-end, using separate entries for each net asset classification.

Prepare closing entries for the year-end, using separate entries for each net asset classification. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)Journal entry worksheet

Require A (PART 1) THIS WHOLE SECTION IS CORRECT

Event	Record the year-end closing entry for net assets without donor restrictions	Debit	Credit
1	Reclassification to Net Assets without Donor RestrictionsExpiration of Time Restrictions	215,600
	Reclassification to Net Assets without Donor RestrictionsSatisfaction of Program Restrictions	267,400
	Contributionswithout Donor Restrictions	2,446,000
	Program Service Revenuewithout Donor Restrictions	5,978,100
	Net Gains on Endowment Investmentswithout Donor Restrictions	18,700
	Contributed Serviceswithout Donor Restrictions	26,500
	Training Seminar Expense		4,548,100
	Education Program Expense		1,537,100
	Research Program Expense		1,282,700
	Management and General Expense		402,600
	Fund-Raising Expense		126,100
	Net Assetswithout Donor Restrictions		1,055,700

REQUIRE PART 2. THIS SECTION IS INCORRECT

Event	Record the year-end closing entry for net assets with donor restrictions.	Debit	Credit
2	Contributions to Endowmentwith Donor Restrictions	796,000
	Investment Revenuewith Donor Restrictions	93,700
	Reclassification from Net Assets with Donor RestrictionsExpiration of Time Restrictions	215,600
	Reclassification from Net Assets with Donor RestrictionsSatisfaction of Program Restrictions		267,400
	Contributions to Programswith Donor Restrictions
	Net Assetswith Donor Restrictions