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I want help with e2 and e3 E2 (Tuition and Fees Entries) Prepare the necessary journal entries to record each of the fol lowing transactions
I want help with e2 and e3
E2 (Tuition and Fees Entries) Prepare the necessary journal entries to record each of the fol lowing transactions of Dewey County College. 1. Tuition and fees charged for the fall 20X8 semester totaled $3,700,000; $100,000 of this amount was waived as a result of scholarships and fee waivers, and $12,000 more is expected to be uncollectible. 2. For the winter 20X9 semester Dewey College levied a general student fee of $18,000. The full amount of this fee is restricted for the purchase of computer equipment and software needed to expand research labs at the college. E3 (Various Transactions) Prepare the journal entries required for Rocco State University to record the following transactions. 1. Tuition and fees assessed total $3,000,000 -80% is collected, scholarships are granted for $100,000; $50,000 is expected to prove uncollectible; and $20,000 of the scholarships are waivers for employees. 2. Revenues collected from sales and services of the university bookstore, an auxiliary enter- prise, were $400,000. 3. Salaries and wages were paid, $1,300,000. Of this amount, $85,000 was for employees of the university bookstore. 4. Mortgage payments totaled $480,000. Of this amount, $300,000 was for interest. 5. Restricted contributions for a specific academic program were received, $220,000. 6. Expenses for the restricted program were incurred and paid, $100,000. 7. Equipment was purchased from resources previously contributed for that purpose, $22,000. SA mont Polotod. ntrin Ianuary 10 20Yg Tubao toto colloca 100Step by Step Solution
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