Southeastem College began the year with endowinent invesiments of $1,250,000 and $750,000 of restriated cast designated by a donon for capital additions. 1 During the year an additional $505.000 donation wasieceived for capital additions. These funds together with those contributed in the phor yeat were used to purchaon 150 acres of land adjacent to the university 2. An alum contributed $260,000 to the permanent endowment and pledged to provide an additional $480,000 early next yeat. the cash was immediafly invested 3. By terms of the cndowment agrement, interest and divdends received on the investments are restricted for scholarships. Gains of losses from changes in the falt value of the invedments, however, are not distributed but remain in the endowment. During the yeor $55,000 of interest and dividend were received on endowment investments 4 At year-end the fair value of the investments had increased by $7,400. Required: Prepare joumat enthes to record the above transactions ossuming a. Southeastern Coliege is a public universty b. Southeastem College is a private universty Complete this question by entering your answers in the tabs below