Below are several transactions involving a private, not-for-profit university.

1. The university recorded $3,000,000 in tuition and fees for the fiscal year.

2. Tuition refunds of $218,000 were given.

3. The federal government notified the university that it would provide the university with a $1,200,000 federal grant for pharmaceutical research next year.

4. The university received a $400,000 endowment.

5. The university provided $22,000 in tuition waivers for students with outstanding academic performance.

6. The chemistry department spent $33,000 on pharmaceutical research.

7. During the year the university spent $2,450,000 to construct a new street to allow for the expansion of student housing.

8. Estimated uncollectible tuition of $2,340 was recorded at the end of the year.

Required: Prepare journal entries to record the foregoing (Problem #2) transactions assuming the university is a private, not-for-profit institution in an Excel spreadsheet. Label each entry clearly and use Excel formulas for all calculated numbers.