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please help 1. WestTown University, a private university, received $2,000,000 a state grant in fiscal year 2019 that was restricted for use developing an online

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1. WestTown University, a private university, received $2,000,000 a state grant in fiscal year 2019 that was restricted for use developing an online library. During the 2019 fiscal year, $800,000 were incurred for the online library. Make all necessary journal entries to record the transactions related to the state grant for fiscal year 2019. 2. EastTown University, a state-funded public institution, had the following activities. Record the journal entries for EastTown, all of which are for fiscal year 2019. a. A generous alumnus donated $600,000 in cash that can only be used for research on heart disease. b. Expenses of $300,000 were made in cash for heart disease research. c. EastTown issued $4,000,000 in long-term bonds to construct a new parking garage on campus. d. The parking garage was partially completed at a total cash expenditure of $3,600,000. e. Interest was paid in the amount of $240,000 on the long-term bonds issued for the parking garage project

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