Ginsburg University, a private, nonprofit university, records the following journal entry for the upcoming academic semester: Debit Tuition and Fees Receivable $1,400,000; Debit Tuition and Fees Discounts and Allowances $100,000; Credit Tuition and Fees Revenue $1,500,000. Which of the following is a reasonable interpretation of the transaction underlying the journal entry? Select one OaEither of the described interpretations is a reasonable. Ob Ginsburg University is recognizing $1,500,000 of tuition and fee revenue, with $100,000 awarded in scholarships. O Ginsburg University is recognizing $1,500,000 of tuition and fee revenue, with $100,000 expected bad debt. Od. Neither of the described interpretations is a reasonable.

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