Question #$2$: Recognizing Revenues of Not$-$for profit Organizations $(12$ points$)$

For each of the following independent situations:

A$)$ Fill in the blanks by specitying the appropriate type of contribution listed in the table below.

Note that there may be situations that are not contributions.

$\backslash$table$[[\backslash$table$[[$A$.$ Contribution of Assets$-$with donor$],[$restrictions $($use or purpose$)]],\backslash$table$[[$B$.$ Contribution of Assots$-$with$],[$donor rostrictions $($timo$)]]],[\backslash$table$[[$C$.$ Contribution of Assets$-$without donor$],[$restrictions$]],$D$.$ Unconditional Plodgo$],[$E$.$ Conditional Pledge,F$.$ Exchango Transaction$]]$

B$)$ Prepare the necessary joumal entry to recognize revenue when applicable.

$$ "Down$-$syndrome Foundation", a voluntary educational and recreational center for children with Down$-$syndrome, received a donation of $$50,000$ to be used to purchase educational games for the children at the begirning of next year.

Journal Entry:

$2-$ Arthur Corporation gave a not$-$for$-$profit research foundation $$500,000$ to conduct research relating to the development of a new type of battery. Per the terms of the gift, Arthur owned the right to any patents issued as a consequence of the research.

Journal Entry:

In June $2010,$ the wealthy parents of a high school graduate pledge to donate $$1\mathrm{.}5$ million to the college she attends, making payments of $$0\mathrm{.}5$ million at the end of each of her remaining years at the school until her expected graduation in $2013.$ The college applies a discount rate of $3\%.$ Based on that rate, the present value of $$1$ for three periods is $$2\mathrm{.}82861.$

Journal Entry:

$4$ of A performing arts association, a non$-$profit organization, is awarded by the Foundation Journal Entry:

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