On July 1, 2006, the Unrestricted Fund, Restricted Fund, and Endowment Fund of Urban Health Organization, a nonprofit organization, pooled their investments, as follows:
During the month of July, 2006, the Urban Health Organization investment pool, managed by the Unrestricted Fund, received interest and dividends revenue totaling $64,000.
Prepare journal entries dated July 31, 2006, in the three funds of Urban Health Organization to record receipt of the interest and dividends revenue. Omit explanations, but identify the fund in which each journal entry is recorded.

Question

On July 1, 2006, the Unrestricted Fund, Restricted Fund, and Endowment Fund of Urban Health Organization, a nonprofit organization, pooled their investments, as follows:
  During the month of July, 2006, the Urban Health Organization investment pool, managed by the Unrestricted Fund, received interest and dividends revenue totaling $64,000.
Prepare journal entries dated July 31, 2006, in the three funds of Urban Health Organization to record receipt of the interest and dividends revenue. Omit explanations, but identify the fund in which each journal entry is recorded.

Quizplus · Accepted Answer

The Answer of On July 1, 2006, the Unrestricted Fund, Restricted Fund, and Endowment Fund of Urban Health Organization, a nonprofit organization, pooled their investments, as follows:
  During the month of July, 2006, the Urban Health Organization investment pool, managed by the Unrestricted Fund, received interest and dividends revenue totaling $64,000.
Prepare journal entries dated July 31, 2006, in the three funds of Urban Health Organization to record receipt of the interest and dividends revenue. Omit explanations, but identify the fund in which each journal entry is recorded.