Cardinal University, a public state university, had the following transactions during the year. Please prepare the journal entries below for Cardinal University. Please be sure to designate revenues and expenses as "operating" or "nonoperating." 1. Gross tuition and fees revenue totaled $5,600,000, on account. 2. With regard to #1, $276,400 of tuition waivers were granted students for which they are paid for work study employment. 3. With regard to #1, $69,600 tuition waivers are granted for academic scholarships in which no work is required on the part of the students. 4. Cash from Federal Pell Grants was received, $50,000. 5. During the year received a gift of $45,000 from an alum of the college. She stated that this gift may not be spent until the following fiscal year. 6. Received a cash donation of $1,000,000 from an alumni. She specified that this must be kept as an endowment and only earnings can be spent, and they must be spent on the University accounting program. 7. The amount received in #6 was invested in bonds. 8. The endowment in #6 had interest earnings of $20,0000. These earnings were then spent on accounting scholarships. 9. Tuition of $500,000 is received for classes to be taken the following fiscal year. 10. Tuition of $6,400 is written off as uncollectible. Cardinal University, a public state university, had the following transactions during the year. Please prepare the journal entries below for Cardinal University. Please be sure to designate revenues and expenses as "operating" or "nonoperating." 1. Gross tuition and fees revenue totaled $5,600,000, on account. 2. With regard to #1, $276,400 of tuition waivers were granted students for which they are paid for work study employment. 3. With regard to #1, $69,600 tuition waivers are granted for academic scholarships in which no work is required on the part of the students. 4. Cash from Federal Pell Grants was received, $50,000. 5. During the year received a gift of $45,000 from an alum of the college. She stated that this gift may not be spent until the following fiscal year. 6. Received a cash donation of $1,000,000 from an alumni. She specified that this must be kept as an endowment and only earnings can be spent, and they must be spent on the University accounting program. 7. The amount received in #6 was invested in bonds. 8. The endowment in #6 had interest earnings of $20,0000. These earnings were then spent on accounting scholarships. 9. Tuition of $500,000 is received for classes to be taken the following fiscal year. 10. Tuition of $6,400 is written off as uncollectible