acc640 following are several transactions involving a university

Project Description:

following are several transactions involving a university.

1.
in fiscal year 2017, the university was notified by the federal government that in 2018 it would receive a $370,000 grant for wetlands research.
2. the university received a $380,000 endowment.
3.
for the fiscal year, the university recorded $1,850,000 in tuition and fees revenue. cash refunds of $241,000 were given.
4.
the university provided $9,400 in tuition waivers for students with outstanding academic performance.
5.
during the year, the university constructed a new street, to allow for the expansion of its student housing efforts. the cost of the street was $1,504,000.
6. the biology department spent $19,000 on wetland research.
7. at year-end, $1,260 of estimated uncollectible tuition and fees was recorded.


a.
prepare journal entries to record the foregoing transactions, assuming the university is a private institution

prepare journal entries to record the foregoing transactions, assuming the university is a public institution
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