j. The accounts payable at June 30, 2018, were paid during the year. k. During the year, $7,000 interest was earned and received on the savings certificates purchased in item (a). l. In honor of its...

j. The accounts payable at June 30, 2018, were paid during the year.

k. During the year, $7,000 interest was earned and received on the savings certificates purchased in item (a).

l. In honor of its 25th anniversary, Washbud Private University conducted a fund drive. Contributions of $16,000 were received. Additional unconditional pledges of $14,000 were promised for payment in December 2019. It is anticipated that $2,000 of the pledges will be uncollectible.

1. Prepare journal entries to record the transactions. Assume fund accounting is not used.

2. Prepare a statement of activities for the year ended June 30, 2019, using a column for each of the three net asset classifications and a total column.