Problem 2

4. For the summer session of 2019, Asian University, a nonprofit organization assessed its students P3,000,000 (net of refunds), covering tuition and fees for educational and general purposes. However, only P2,500,000 was expected to be realized because scholarships totaling P50,000 were granted to students, and tuition remission of P150,000 were allowed to faculty members' children. What amount should Asian University include in the unrestricted funds as revenues from student tuition fees?