Business, 27.04.2021 14:50 nina1390

Following are several transactions involving a university. In the current fiscal year, the university was notified by the federal government that next fiscal year it would receive a $350,000 grant for wetlands research. The university received a $360,000 endowment. For the fiscal year, the university recorded $1,750,000 in tuition and fees revenue. Cash refunds of $228,000 were given. The university provided $8,900 in tuition waivers for students with outstanding academic performance. 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 $1,425,000. The biology department spent $18,000 on wetlands research. At year-end, $1,190 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 Entry Required" in the first account field.)

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Following are several transactions involving a university. In the current fiscal year, the universit...

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