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1. Record the journal entry for the billing described above. Enter accounts in order of magnitude (largest to smallest amounts), debits first. Account Tuition
1. Record the journal entry for the billing described above. Enter accounts in order of magnitude (largest to smallest amounts), debits first. Account Tuition and fees revenue Tuition and fees receivable Tuition and fees discounts and allowances Allowance for uncollectible tuition and fees Debit Credit 0 0 0 0 0 0 0 90,000 2. Assume that the transactions described above were in the summer instead of the fall. The billing was on June 25, fiscal year end is June 30, and the semester does not begin until July 15. Record the journal entry given these assumptions. Enter accounts in order of magnitude (largest to smallest amounts), debits first. Account Tuition and fees receivable Tuition and fees revenue Tuition and fees discounts and allowances Allowance for uncollectible tuition and fees Debit Credit 0 0 0 0 0 0 0 90,000
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