Reference no: EM132567740

Spaniel University, is a private veterinary college.

a) On February 15th, 2020 the university received a $2,000,000 donation and a pledge to donate another $2,000,000 in 2022 from the Kibble Animal Feed Company. The purpose of the current and future donation was to soften the bite out of general cost increases.

b) The university board of directors placed $5,000,000 of past unrestricted donations in an endowment. The purpose of the endowment is to supplement administrator salaries who made less than $750,000 per year.

c) Spaniel University received $8,600,000 in donations during the month of April. $4,600,000 of the donation could be spent during the current academic year. $4,000,000 of donations was designated by the donor to be used to purchase puppy kennel equipment.

d) Twelve luxury puppy kennels, with GPS guided robots were received on June 15th, 2020. The GPS guided robots allowed automatic clean-up of any puppy messes. The invoice for $3,800,000 was paid for on August 15th, 2020.

e) On September 1st, an additional $4,000,000 was spent on Spaniel University President's new office furniture and another $200,000 on pup tents for the students.

f) Three administrators had their salaries supplemented by $100,000 each for the year ended June 30th, 2021

Question 1: Record all entries for the academic years ending June 30th, 2020 and June 30th, 2021.