Exercise $9-7($Algo$)$ Calculate earned revenues LO $9-1$

Big Blue University has a fiscal year that ends on June $30.$ The $2022$ summer session of the university runs from June $9$ through July $25.$ Total tuition paid by students for the summer session amounted to $$111,000.$

Required:

a$.$ How much revenue should be reflected in the fiscal year ended June $30,2022?$ Note: Do not round intermediate calculations.

b$.$ Would there be a change in the revenue reflected 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?

a$.$ Amount of revenue

b$.$ Would there be a change in the revenue reflected?