3A)

Following are several transactions involving a university.

1. In the current fiscal year, the university was notified by the federal government that next fiscal year it would receive a $530,000 grant for wetlands research.

2. The university received a $540,000 endowment.

3. For the fiscal year, the university recorded $2,650,000 in tuition and fees revenue. Cash refunds of $345,000 were given.

4. The university provided $13,400 in tuition waivers for students with outstanding academic performance.

5. During the year, the university constructed a new street, to allow for the expansion of its student housing efforts. The cost of the street was $2,138,000.

6. The biology department spent $27,000 on wetlands research.

7. At year-end, $1,800 of estimated uncollectible tuition and fees was recorded.

   Prepare journal entries to record the foregoing transactions, assuming the university is a private institution. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

The individual transactions that require Journal Entries is as follows:

• In the current fiscal year, the university was notified by the federal government that next fiscal year it would receive a $530,000 grant for wetlands research.
• The university received a $540,000 endowment.
• Record the receipt of tuition and fees revenue.
• Record the refund of tuition and fees revenue.
• The university provided $13,400 in tuition waivers for students with outstanding academic performance.
• During the year, the university constructed a new street, to allow for the expansion of its student housing efforts. The cost of the street was $2,138,000.
• Record the payment of expenses related to wetland research.
• Record the appropriation of expenses for wetland research from the net assets released account.
• At year-end, $1,800 of estimated uncollectible tuition and fees was recorded.