Eastern University had the following transactions at the beginning of its academic year:

Student tuition and fees were billed in the amount of $$7,190,000.$ Of that amount, $$4,640,000$ was collected in cash.

Pell Grants in the amount of $$2,014,000$ were received by the university.

The Pell Grants were applied to student accounts.

Student scholarships, for which no services were required, amounted to $$610,000.$ These were applied to student tuition bills at th beginning of each semester.

Required:

Prepare journal entries to record the above transactions assuming:

a$.$ Eastern University is a public university.

b$.$ Eastern University is a private university.

Complete this question by entering your answers in the tabs below.

Public University

Private

University

Prepare journal entries to record the above transactions assuming Eastern University is a public university.

Note: If no entry is required for a transaction or event, select $"$No Journal Entry Required" in the first account fleld.

Journal entry worksheet

A

B

C

D

E

Note: Enter debits before credits.

General Journal

Debit

Credit