Following are several transactions Involving a unlversity. the current fiscal year, the university was notified by the federal government that next fiscal year it would receive a 480,000 grant for wetlands research. 2. The unlversity recelved a $500,000 endowment. 3. For the fiscal year, the unlversity recorded $2,400,000 in tuition and fees revenue. Cash refunds of $313,000 were given 4. The unlversity provided $12,200 in tuition walvers for students with outstanding academic performance 5. During the year, the university constructed a new street, to allow for the expansion of Its student housing efforts. The cost of the street was $1,978,000 6. The blology department spent $25,000 on wetlands research. 7. At year-end, $1,670 of est mated uncollectible tultion and fees was recorded. Required Prepare Journal entries to record the foregoing transactions, assuming the university is a private institution. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list ournal entry worksheet In the current fiscal the federal government that next fisca receve a was notified by year it would year, the 000 grant for wetlands research. Note: Enter debits before credits. Record entry View general journal Clear entry b. Prepare journal entries to record the foregoing transactions, assuming the university is a public Institution. (If no entry is required for a transactionMevent, select "No Journal Entry Required" in the first account field.)