(15 points] The trial balance of Long Island University, a government university, on September 1 20X7 was as follows Dr. Cash Cr. $ 155,000 Accounts Receivable Allowance for Uncollectible Accounts Inventory of Materials and Supplies Vouchers Payable 30.000 $2.000 25,000 Capital Assets (net) Net Position 23.000 800,000 $1,010,000 985,000 $1,010,000 Long Island University's dormitory and food service facilities are operated as auxiliary enterprises. The following transactions took place during the current fiscal year 1. Collections amounted to $2,240.000, distributed as follows: Tuition and fees, $1,930,000 unrestricted gifts, $170,000 sales and services of educational activities, $115,000, other sources, $25,000 2. Receivables at year end were $29,000, consisting entirely of tuition and fees revenues. 3 It is estimated that tuition receivable of $3,000 will never be collected 4. Revenues from auxiliary enterprises were $300,000, all collected 5. Materials purchased during the year for cash, $500,000, on account, $50,000 6. Salaries and wages paid: Academic support $80,000 7. Interest expenses chargeable to Institutional Support, $3,000, were paid, 8. Vouchers payable paid $40,000 Required: Prepare Journal entries to record the above transactions