Record the following transactions on the books of Benjamin College,
a private college. All of the transactions are for the year
2018.
(a) The College received $450,000 in funds that were pledged in
2017, to be used for unrestricted purposes in 2018.
(b) The College was awarded $900,000 in grants that are to be used
for restricted research purposes. $600,000 in cash was received,
and $580,000 was expended on these projects.
(c) On Dec. 1, the College received a pledge...