Big Blue University has a fiscal year that ends on June 30. The 2019 summer session of the university runs from June 10 through July 28. Total tuition paid by students for the summer session amounted to $101,000.

Required:

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

b. Would your answer to part a be 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? Yes No