Problem 18.5 (LO IO) Journal entries. Super Senior Agency is a VHWO. The following events occurred during the year. The agency uses one control account for its fixed assets, with supporting subsidiary records. 1. Property was purchased for $200,000. A down payment of $40,000 was made from unrestricted cash, and a 14% mortgage was signed for the remainder. 2. Office furniture was purchased for $9,000 on open account. 3. A local corporation donated and installed room partitions. The value of the donated items and services was $14,000. Super Senior's policy is to release donor restrictions over the useful life of the assets to match depreciation expense. 4. At year-end, a payment was made covering mortgage interest for one year, plus a $10,000 payment on the principal. 5. Office equipment costing $3,000, with a book value of $1,000, was sold for $1,800 cash. The gain is unrestricted. 6. Fully depreciated equipment costing $7,000 was writen off. There was no scrap value. 7. A depreciation shedule was prepared, showing annual depreciation expense of \$46,000, which was recorded. Depreciation of $20,000 was for equipment donated or purchased with donated cah. 8. Two yean ago, the will of an agency voluntecr granted $75,000 for the acquisition and insullation of theater equipment. providing the organization acquired a new building The amount now was expended in accordance with the stipulations of the will, and payment of \$75,009 wm made. 9. The acoount payable of 59,000 mentioned in item (2) was paid