Business, 01.12.2021 01:00 lilkobe6982

Manny Saxe College is a small, nonprofit college known for its excellence in teaching accounting. The college uses fund accounting and has an Unrestricted Current Fund (UCF), a Restricted Current Fund (RCF), a Plant Fund (PF), and an Endowment Fund (EF). It charges its expenses to Instruction and research, Student services, Plant operations, and Auxiliary enterprises. It had the following transactions and events during its calendar fiscal year. Prepare the journal entries necessary to record these transactions. Show which fund is used to record each transaction and identify the appropriate net asset classification.

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Manny Saxe College is a small, nonprofit college known for its excellence in teaching accounting. Th...

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