$($Need help with the once not answered$)$ Split$-$Interest Agreements

A successful graduate of Orlando University decides to supplement his retirement income while supporting the university. On July $1,2023,$ the first day

of the university's fiscal year, he donates $$100,000$ to the university under a charitable remainder trust agreement. The university will pay the donor

$$5,000$ per year for his lifetime, on June $30$ of each year. When the agreement terminates, the university has unrestricted access to the remaining assets

in the trust. When signed, the donor's life expectancy is $15$ years, and the agreed discount rate is $4\mathrm{.}75\%.$ During fiscal $2024,$ investments made with the

donation earn cash income of $$5,500.$ The investments have a fair value of $$100,700$ at year end. On June $30,2024,$ the first payment is made. An

actuarial evaluation determines that the donor's life expectancy has changed to $12$ years as of June $30,2024.$

Required

Prepare the journal entries to record the events related to the split$-$interest agreement for the fiscal year ending June $30,2024.$ Indicate the category of

net assets affected if appropriate. Round all answers to the nearest whole number.

How will the split interest agreement appear on Orlando University's statement of financial position at June $30,2024?$

Annuity liability$-$split$-$interest agreement

Cash$-$split$-$interest agreement

Contribution revenue$-$restricted

Contribution revenue$-$unrestricted

Contributions receivable

Discount on contributions receivable

Gain on split$-$interest agreement$-$restricted

Gain on split$-$interest agreement$-$unrestricted

Investments$-$split$-$interest agreement

Interest expense