Please mark each 6 JEs so I know which one you are answering and please fully answer the question. Thank you!

Prepare journal entries (with JE narrative), as necessary to record these events and transactions. Be sure to indicate the type of fund (permanently restricted, temporarily restricted, or unrestricted) that would be affected by the entries.

1) A high-tech firm pledged to contribute $1 million in the companys common stock to a universitys business school if the school would establish a new program in the management of information technology. The securities were to be placed in an endowment fund, and the annual dividend earnings were to be used to purchase computer hardware and software.

2) The business school established the program and thereby satisfied the conditions to receive the contribution.

3) The business school received the stock and placed it in an endowment fund.

4) In the first year after receiving the stock, the business school earned $30,000 in cash dividends. They were credited to an appropriate fund.

5) The business school purchased $20,000 of computer equipment.

6) The computer equipment was estimated to have a useful life of three years (no salvage). The school charged one years depreciation.