Please record the following transactions for Watsamatta University (aka Whatsamatta U), a public university whose mission is to prepare students for the culinary arts.

1. Students were billed for tuition for next year, $400,000. Cash has not yet been received.
2. Students were awarded $60,000 in academic scholarships, which were applied to their accounts in #1.
3. The university received $32,000 of Pell Grants during the academic year. These amounts were immediately applied to tuition receivable for amounts due for tuition.
4. During the year, $40,000 cash and pledges for an additional $70,000 were received as a result of fund-raising campaigns to enhance the Universitys endowment. By terms of the agreement, these contributions are to remain permanently in the endowment. The $40,000 was immediately used to purchase additional investments.
5. Several students were hired by the University to work in the Universitys dining hall (auxiliary enterprise). As part of the compensation for working, tuition in the amount of $6,000 is waived.