15:16- .1 =: The following information is available about the operations for a private, not-for-profit university 1 Tuition and fees assessed total $3,000,00080% is collected in cash, scholarships are granted for $100,000; $50,000 is expected to .prove uncollectible; and $20,000 of the scholarships are waivers for employees Pledges receivable of $480,000 were collected during the year; $7,000 of pledges were written off as uncollectible Donations of materials totaled $22,000; $5,000 of the materials were on hand at year end The university received $2,500,000 in alumni donations for the new business school building Revenues collected from sales and services of the university bookstore, an auxiliary enterprise, were $400,000 mo .5 :Expenses were incurred for 16 Instruction $700,000 b. Academic support 500,300 Student services 600,200 d. Institutional support 400,500 .Expenses incurred resulted in the release of $170,320 in temporarily restricted net assets Restricted contributions for a specific academic program were received, $220,000 .Expenses for the restricted specific academic program were incurred and paid, $100,000 Equipment was purchased from resources previously contributed for that purpose, 522,000 :Required .8 .Prepare the appropriate journal entries for the university 15:16- .1 =: The following information is available about the operations for a private, not-for-profit university 1 Tuition and fees assessed total $3,000,00080% is collected in cash, scholarships are granted for $100,000; $50,000 is expected to .prove uncollectible; and $20,000 of the scholarships are waivers for employees Pledges receivable of $480,000 were collected during the year; $7,000 of pledges were written off as uncollectible Donations of materials totaled $22,000; $5,000 of the materials were on hand at year end The university received $2,500,000 in alumni donations for the new business school building Revenues collected from sales and services of the university bookstore, an auxiliary enterprise, were $400,000 mo .5 :Expenses were incurred for 16 Instruction $700,000 b. Academic support 500,300 Student services 600,200 d. Institutional support 400,500 .Expenses incurred resulted in the release of $170,320 in temporarily restricted net assets Restricted contributions for a specific academic program were received, $220,000 .Expenses for the restricted specific academic program were incurred and paid, $100,000 Equipment was purchased from resources previously contributed for that purpose, 522,000 :Required .8 .Prepare the appropriate journal entries for the university