For the spring semester of 20X4, Lane University assessed its students $3,400,000 (net of refunds) of tuition

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For the spring semester of 20X4, Lane University assessed its students $3,400,000 (net of refunds) of tuition and fees for educational and general purposes. However, only $3,000,000 was expected to be realized because scholarships totaling $300,000 were granted to students, and tuition remissions of $100,000 were allowed to faculty members' children who were attending Lane. How much should Lane include in educational and general revenues from student tuition and fees?

a. $3,400,000

b. $3,300,000

c. $3,100,000

d. $3,000,000

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Governmental And Nonprofit Accounting Theory And Practice

ISBN: 9780132552721

9th Edition

Authors: Robert J Freeman, Craig D Shoulders, Gregory S Allison, Terry K Patton, Robert Smith,

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