PLEASE do the entries and the INCOME STATEMENT

E3 (Various Transactions) Prepare the journal entries required for Rocco State University to record the following transactions. 1. Tuition and fees assessed total $3,000,00080% 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. 100YO C11 10