The following transactions occurred at a not-for-profit university. For each transaction, state the appropriate net asset classification and the fund used. (Transactions may require more than one net asset classification and more than one fund.)

a. The university paid its regular salaries for instruction and general administration.

b. The university bookstore, an auxiliary enterprise, paid its bi-weekly payroll.

c. The university sold bonds to finance construction of a new academic building.

d. The university made a transfer of funds to pay for the first year's debt service on the bonds issued in transaction c.

e. The university received a gift of $1,000,000, to be held in perpetuity, with the income to be used for any purpose approved by the university trustees.

f. The university trustees set aside $300,000 in a special fund to finance tuition loans to low-income students.

	Net Asset Classification		Fund(s)
a.
b.
c.
d.
e.
f.