E 22-9 College journal entries Burges Colleges total tuition and fees is at $1,250,000, where a fellowship

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E 22-9 College journal entries Burges College’s total tuition and fees is at $1,250,000, where a fellowship program reduces the fees by 5 percent, and a bad debt of 2.5 percent is expected. The college also receives a yearly grant of $100,000 for its students from a third party grant program.

REQuIRED: Prepare the necessary journal entries for the transactions above.

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