Question: Record the following events that affect 1 Public University and

Record the following events that affect
(1) Public University and
(2) Private University:
a. A private grant of $200,000 was received to be used exclusively for defraying costs of holding conferences on the topic of genes.
b. By year-end, $110,000 of the grant mentioned in item (a) had been applied to the purpose stipulated.
c. The grant provided that amounts not awarded by year-end are to be transferred to the endowment fund. The liability to that fund is recorded.
d. An alumnus, who was a former athlete, contributed $15,000 to assist in the search for a basketball coach.

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