American University of Beirut tuition revenues received in cash for the Fall semester 2019 (August December was $1 millioncuition for the Springster 2020 Uanuary. May was $950.000 milliore tuition for the Summer semester 2020 June 1-August 15) was $250.000. However the faculty salaries for the Fall semester were $750,000; for the Spring semester $725.000; for the Summer semester were $125.000. During Sune. $800,000 of tuition applicable to the Fall 2020 was received in cash. All salaries are paid at the end of the month earned Salaries earned in summer are June $50,000, July $50.000 and August $25.000, AUB received a grant notice of $25.00 for research purposes, however the university spent 2,000 for survey distribution and $3,000 for those working on theresen. A sponsor pledged $250.000 to build a new building for the ben school. Ne on the straight line method to record ita plant and equipment deoreclothon, wich were purchondata cost of $30,000.000, restul value of $10,000 nestleated use of 40 year Required: Journalize the necessary transactions American University of Beirut tuition revenues received in cash for the Fall semester 2019 (August December was $1 millioncuition for the Springster 2020 Uanuary. May was $950.000 milliore tuition for the Summer semester 2020 June 1-August 15) was $250.000. However the faculty salaries for the Fall semester were $750,000; for the Spring semester $725.000; for the Summer semester were $125.000. During Sune. $800,000 of tuition applicable to the Fall 2020 was received in cash. All salaries are paid at the end of the month earned Salaries earned in summer are June $50,000, July $50.000 and August $25.000, AUB received a grant notice of $25.00 for research purposes, however the university spent 2,000 for survey distribution and $3,000 for those working on theresen. A sponsor pledged $250.000 to build a new building for the ben school. Ne on the straight line method to record ita plant and equipment deoreclothon, wich were purchondata cost of $30,000.000, restul value of $10,000 nestleated use of 40 year Required: Journalize the necessary transactions