Problem 1 - Government College Journal Entries Below are selected transactions for the Lake County Community College (LCCC) LCCC reports as a special government engaged only in business-type activities. All amounts are in thousands of dollars Transactions 1. Tuition and fees charged for the fall 20X3 semester totaled $2,800. Of this, $98 was waived as a result of scholarship allowances, and another $15 is expected to be uncollectible 2. For the winter 20X4 semester LCCC collected a general student fee of $18. The full amount of this fee is restricted for the purchase of computer equipment and software needed to establish computer labs at the college 3. The college received a reimbursement grant restricted to research on composite materials, $300 4. Salaries paid to researchers in the Composite Materials Lab of $40 qualified under the research grant received 5. The college purchased equipment for use in its building and grounds maintenance department at a cost of $35. Unrestricted resources were used for this purpose 6. The college paid $30 interest and $15 principal on one of its mortgages Requirement: Prepare the necessary journal entries to record these transactions Page Break