Manna House, a local not-for-profit, provides food assistance to those in need. Manna House recently received two donations:a) Cash donation of $25,000 that must be used to purchase a vehicle to be used to deliver food. If the money is not used to purchase a vehicle for that purpose, the money must be returned to the donor.b) Donated furniture that may be used for the Manna House office, sold, or put to any other use Manna House sees fit. The fair value of the furniture is $10,000.Required:Prepare the journal entries for the receipt of these donations.

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The Answer of Manna House, a local not-for-profit, provides food assistance to those in need. Manna House recently received two donations:a) Cash donation of $25,000 that must be used to purchase a vehicle to be used to deliver food. If the money is not used to purchase a vehicle for that purpose, the money must be returned to the donor.b) Donated furniture that may be used for the Manna House office, sold, or put to any other use Manna House sees fit. The fair value of the furniture is $10,000.Required:Prepare the journal entries for the receipt of these donations.

Manna House, a Local Not-For-Profit, Provides Food Assistance to Those