Big Blue University has a fiscal year that ends on June 30. The 2019 summer session of the university runs from June 8 through July 26. Total tuition paid by students for the summer session amounted to $129,000.

Required:

a.How much revenue should be reflected in the fiscal year ended June 30, 2019?

b.Would your answer to partabe any different if the university had a tuition refund policy that no tuition would be refunded after the end of the third week of summer session classes?