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Provide all the journal entries required for february

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Question - You have recently been named the chief accountant for Stop Smog Now (SSN), a not-for-profit organization that provides pollution control devices for coal burning plants in developing countries. On February 15, Year 7, SSN received a restricted contribution of $750,000 for the purchase of land and building. On March 11, Year 7, SSN purchased a building and land for $500,000 and $250,000 respectively. The building will be depreciated over 20 years. Year end is March 31.

Required - Assuming the Deferral method is used, provide all the journal entries required for February and March of Year 7.

Reference no: EM133081216

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