Hi Shrugal, I was hoping you could help me out with this assignment.

\fExercise 11-9 Journal Entries 1 General Ledger debits credits bb CASH 350,000 bb ACCOUNTS RECEIVABLE 1,618,000 bb LOANS TO STUDENTS AND FACULTY 350,000 350,000 ALLOWANCE FOR UNCOLLECTABLE ACCOUNTS 85,000 bb 1,618,000 ALLOWANCE FOR UNCOLLECTABLE CONTRIBUTIONS 520,000 bb 520,000 bb 350,000 LONG-TERM INVESTMENTS 15,500,000 15,500,000 130,000 bb 150,000 bb 130,000 150,000 UNRESTRICTED NET ASSETS BOARD DESIGNATED 2,815,000 bb 5,555,000 UNRESTRICTED UNRESTRICTED REVENUES 5,425,000 LONG-TERM DEBT 7,500,000 TEMPORARILY RESTRICTED NET ASSETS 5,555,000 bb 49,000 CONTRIBUTIONS RECEIVABLE 5,425,000 NONCURRENT LONG-TERM DEBT 7,500,000 bb 10,087,000 bb PROPERTY PLANT & EQUIPMENT 15,450,000 bb 15,450,000 CURRENT PORTION ACCOUNTS PAYABLE PERMANENTLY RESTRICTED NET ASSETS 10,087,000 bb INTEREST RECEIVABLE 49,000 85,000 ACCUMULATED DEPRECIATION bb 8,500,000 bb 8,500,000 UNRESTRICTED NET ASSETS UNDESIGNATED 3,400,000 bb 2,815,000 3,400,000 UNRESTRICTED TUITION DISCOUNTS - TEMPORARILY RESTRICTED REVENUES -Tuition and fees -Investment income - endowments -Contributions -Investment income - other -Investment income - other -Auxiliary enterprises -Contributions -Gains on LT investments -Gains on LT investments -Gains on LT investments PERMANENTLY RESTRICTED GAINS ON LT INVESTMENTS UNRESTRICTED EXPENSES Instruction- PERMANENTLY RESTRICTED CONTRIBUTION REVENUE FLOOD LOSS Research- Public serviceAcademic support- - - Student services- RECLASSIFICATION TO UNRESTRICTED NET ASSETS Satisfaction of: -Time Restrictions- RECLASSIFICATION FROM TEMP. RESTRICTED NET ASSETS - Program Restrictions-Plant Acquisitons- beginning balances ending balance Auxilliary enterpr.- Dr 38,742,000 38,742,000 Cr 38,742,000 38,742,000 Instutional support- - - Exercise 11-9 General Ledger CLOSING ENTRIES debits credits Unrestricted BOARD DESIGNATED UNRESTRICTED NET ASSETS 2,815,000 Preclosing closing entry 2,815,000 UNDESIGNATED UNRESTRICTED NET ASSETS 3,400,000 Preclosing closing entry 3,400,000 Temporarily Restricted NET ASSETS TEMPORARILY RESTRICTED - SCHOLARSHIPS 5,555,000 Preclosing closing entry 5,555,000 Permanently Restricted NET ASSETS PERMANENTLY RESTRICTED 10,087,000 Preclosing closing entry 10,087,000 KORNER COLLEGE STATEMENT OF UNRESTRICTED REVENUES, EXPENSES AND CHANGES IN UNRESTRICTED NET ASSETS for the year ended June 30 2015 Unrestricted Revenues: Net Tuition and Fees Contributions Unrestricted Income on Endowments Other Investment Income Sales and Services of Auxiliary Enterprises Gain on Long-Term Investments Total Revenues $ - Net Assets Released From Restrictions: Expiration of Time Restrictions Satisfaction of Program Restrictions Satisfaction of Fixed Asset Acquisition Restrictions Total Net Assets Released From Restrictions Total Unrestricted Revenues and Other Support - Expenses and Losses: Educational and General: Instruction Research Public Service Academic Support Student Services Institutional Support Total Educational and General Expenses - Auxiliary Enterprises Total Expenses - Flood Loss Total Expenses and Losses Increase in Unrestricted Net Assets $ - KORNER COLLEGE STATEMENT OF CHANGES IN NET ASSETS for the year ended June 30 2015 Total Unrestricted Revenues Net Assets Released From Restrictions Total Unrestricted Expenses and Losses Increase in Unrestricted Net Assets $ - Temporarily Restricted Net Assets: Contributions Gains on Long-Term Investments Other Investment Income Net Assets Released From Restrictions Increase in Temporarily Restricted Net Assets - Permanently Restricted Net Assets: Contributions Gains on Long-Term Investments Investment Income on Endowment Increase in Permanently Restricted Net Assets - Increase in Net Assets - Net Assets, July 1, 2014 Net Assets, July 30, 2015 $ - KORNER COLLEGE STATEMENT OF FINANCIAL POSITION AS OF JUNE 30, 2015 ASSETS Cash and Cash Equivalents Accounts Receivable (Net of Allowance for Doubtful Accounts) Accrued Interest Receivable Contributions Receivable (Net of Allowance for Uncollectables) Loans to Students and Faculty Long-Term Investments Property, Plant, and Equipment Less: Accumulated Depreciation Total Assets $ $ - LIABILITIES AND NET ASSETS Accounts Payable Long-Term Debt: Current Installment Long-Term Debt: Noncurrent Total Liabilities - Net Assets: Unrestricted - Board Designated Other Unrestricted Total Unrestricted - Temporarily Restricted Permanently Restricted Total Net Assets - Total Liabilities and Net Assets $ - KORNER COLLEGE STATEMENT OF CASH FLOWS for the year ended June 30 2015 Cash Flows From Operating Activities: Change in Net Assets Adjustments to Reconcile Change in Net Assets to Net Cash Provided by Operating Activities: Depreciation Decrease in Accounts Receivable (Net of Allowance) Increase in Accrued Interest Receivable Decrease in Contributions Receivable (Net of Allowance) Increase in Accounts Payable Gains on Long-Term Investments Contributions Restricted to Investment in Property, Plant and Equipment Contributions Restricted to Long-Term Investment in Endowments Cash Flows From Operating Activities $ - Cash Flows From Investing Activities: Acquisition of Property, Plant and Equipment Purchase of Investments Sale of Investments Disbursement of Loans to Students and Faculty Repayment of Loans to Students and Faculty Cash Flows From Investing Activities - Cash Flows From Financing Activities: Proceeds From Contributions Restricted for: Investment in Property, Plant, and Equipment Investment in Endowments Payments on Long-Term Debt Cash Flows From Financing Activities - Net Increase in Cash and Cash Equivalents - Cash and Cash Equivalents, July 1, 2014 Cash and Cash Equivalents, June 30, 2015 $