11. A donor contributed $100,000 in cash for the acquisition of rare first editions for the university library. The director of the library located a collection of the first editions that was...

11. A donor contributed $100,000 in cash for the acquisition of rare first editions for the university library. The director of the library located a collection of the first editions that was available for $160,000. The university board transferred $60,000 from the unrestricted current fund to cover the difference.

12. The first edition collection is purchased, and payment is made.

Prepare journal entries to record the events, indicating in which funds the entries are made.