The Franklin Public Library received a restricted contribution of $300,000 in 2012. The donor specified that the

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The Franklin Public Library received a restricted contribution of $300,000 in 2012. The donor specified that the money must be used to acquire books of poetry written in the sixteenth century. As of December 31, 2012, only $100,000 of the restricted resources had been expended.

Required:
Prepare the journal entries necessary to record these events during 2012. Indicate the fund in which each journal entry is recorded.

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Advanced Accounting

ISBN: 978-1118098615

5th Edition

Authors: Debra C. Jeter, Paul Chaney

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