The following is the preclosing trial balance for Allen University as of June 30, 2020. Additional Information related to net assets and the statement of cash tiows is also provided Preclosing Trial Balance June 30, 2020 Debits Credits Cash and Cash Equivalents $ 519, 830 3,222,000 Tuition and Fees Receivable Allowance for Doubtful Accounts Pledges Receivable Allowance for Doubtful Pledges Property, Plant, and Equipment Accumulated Depreciation Accounts Payable Accrued Liabilities Deposits Held in Custody for Others 374,600 224,320 2,208,420 76,040 79,440 662,400 103,600 40,6B0 19,050 67,380 859,000 3,195,180 , 432, 400 Bonds Payable Net Assets-Without Donor Restrictions Net Assets With Donor Restrictions Net Assets Released from Restrictions with Donor Restrictions Net Asseta Released from Restrictiona Without Donor Reatrictions Tuition and Fees Tuition and Fees Discount and allowances Contributions- without Donor Restrictions Contributions- with Donor Restrictions Grants and Contracta- With Donor Restrictions Investment Income without Donor Restrictions Investment Income with Donor Restrictions Other Revenue Auxiliary Enterprise Sales and Services Gain on Sale of Investrents Unrealized Gain on Investments Instruction Expense Research ncademic Support Expense Student Services Expense Institutional Support Expense Auxiliary Enterprise Expenses 462,700 462, 700 1,293,790 327,900 313,450 333,370 327,210 53, 540 31,500 13,700 158,900 72,200 553,990 ,107,830 641,600 294,560 259,200 277,260 229, 300 Expense Total $10,149,520 $10,149,520 Net assets released from donor restrictions totaled $462,700. The gain resulting trom sale of investments was unrestricted. Twenty percent of the unreallzed gain is related to net assets restricted for programs, with the remainder related to net assets without donor restrictions Additional Information is as follows . The balance in cash and cash equivalents as of July 1, 2019, was $923,970. . Tultion and Fees Recelvable Increased by $13,410. Pledges Recelvable decreased by $2,050. Allowance for Doubtful Accounts was increased by $980 (the bad debt was netted against Tultion and Fees). Accounts Payable decreased by $3,740. Accrued Liabilities decreased by $1,490. . Unearned Revenue Increased by $8,260. . Depreciation Expense was $40,000. . Cash of $150,000 was used to retire bonds .Investments were soid for $2,250,000 (at a gain of $72,200) and others were purchased for $1,875,000. . Net assets without donor restrictions were used to purchase equipment at a cost of $49,600