Government and not for profit accounting.

Governmental University Journal Entries Selected transactions for Mulungushi University are listed below. The university reports as a special purpose govemment engaged in only business-type activities. All amounts are in thousands of dollars. Transactions: 1. Tuition and fees assessed total K4,500;70% is collected immediately; scholarships allowances are granted for K120; and K45 is expected to prove uncollectible. 2. Revenues collected from sales and services of the university bookstore, an auxiliary enterprise, were K275. 3. Salaries and wages paid, K1,500;K62 of this was for employees of the university bookstore. 4. Tuition remissions were granted in the amount of K35 for employees. 5. Mortgage payments totaled K 520;K290 of this was for interest 6. Restricted contributions for the Master of Science in Accounting and Finance (MScAF) program were received, K250. 7. Expenditures for the M ScAF program were incurred and paid, K230. 8. Equipment was purchased from unrestricted resources, K34. Requirement: Prepare the necessary journal entries to record these transactions