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please show work/explanation. 1. The deferred revenues related to unearned revenues for the summer session, which ended in August 2. During the fiscal year ended
please show work/explanation.
1. The deferred revenues related to unearned revenues for the summer session, which ended in August 2. During the fiscal year ended June 30, 2020, student tuition and fees were assessed in the amount of $12.990,000. Of that amount $9,669,000 was collected in cash. Also of that amount, $568,000 pertained to that portion of the summer session that took place after June 30, 2020 3. Student scholarships, for which no services were required, amounted to $830,000. These scholarships were oppled to student tuition bills at the beginning of each semester 4. Student scholarships and fellowships for which services were required (graduate research assistantships) amounted to $759.000 These were applied to student tuition bills at the beginning of each semester 5. The college incurred $219,000 of qualified expenditures under a cost-reimbursement grant from the Department of Agriculture. 6. By year-end. $199,000 had been received by the Department of Agriculture on the grant. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 3 The deferred revenues related to unearned revenues for the summer session, which ended in August Note: Enter debits before credits Transaction General Journal Debit Credit 01 Record entry Clear entry View general Journal Journal entry worksheet Step by Step Solution
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