Following are several transactions involving a university. 1. In fiscal year 2017, the university…

Following are several transactions involving a university. 1. In fiscal year 2017, the university was notified by the federal government that in 2018 it would receive a $390,000 grant for wetlands research. 2. The university received a $400,000 endowment. 3. For the fiscal year, the university recorded $1,950,000 in tuition and fees revenue. Cash refunds of $254,000 were given. 4. The university provided $9,900 in tuition waivers for students with outstanding academic performance. 5. During the year, the university constructed a new street, to allow for the expansion of its student housing efforts. The cost of the street was $1,583,000. 6. The biology department spent $20,000 on wetland research. 7. At year-end, $1,330 of estimated uncollectible tuition and fees was recorded. Required Prepare journal entries to record the foregoing transactions, assuming the university is a private institution. (If no entry is required for a transaction/event, select “No Journal En

 

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Following are several transactions involving a university. 1. In fiscal year 2017, the university… was first posted on July 6, 2020 at 4:30 am.
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