Please help, I can't figure out what I am doing wrong exactly. Please provide explanations if possible.

The Statement of Net Position of South State University, a governmentowned university, as of the end of its scal year June 30. 2019. follows. Assets Cash $ 356,666 Accounts receivable (net of doubtful accounts of $13,666) 321,666 Investments 217,666 Capital assets $1,519,666 Accu-ulated depreciation 239,666 1,286,666 Total assets 2,1?4,666 Liabilities Accounts payable 93,666 Accrued liabilities 37,666 Unearned revenue 26,666 Bonds payable 624,666 Total liabilities 786,666 Net Position Net investment in capital assets 656,666 Restricted 162, 666 Unrestricted 576,666 Total net position $1,394,569 The following information pertains to the year ended June 30, 2020: 1. South billed tuition and fees totaling $1,255,000 and provided $209,000 in scholarship waivers. 2. 3. Notication was received from the federal government that up to $43,000 in funds could be received in the current year for costs Unearned revenue at June 30, 2019, was earned during the year ended June 30, 2020. incurred in developing student performance measures. 4. During the year, the University received an unrestricted appropriation of $2,580,000 from the state. 5. 6. During the year, $697,000 in cash contributions was received from alumni. Of the amount contributed, $130,000 is to be used for Equipment for the student computer labs was purchased for cash in the amount of $456,000. construction of a new library. 7. Interest expense on the bonds payable in the amount of $43,000 was paid. 8. Student tuition refunds of $102,000 were made. Cash collections of tuition and fees totaled $1,317,000, $119,000 of which applied to the semester beginning in August 2020. Investment income of $9,000 was earned and collected during the year. 9. General expenses of $3,242,000 related to the administration and operation of academic programs, and research expenses of $27,000 related to the development of student performance measures, were recorded in the voucher system. At June 30, 2020, the accounts payable balance was $56,000. 10. Accrued liabilities at June 30, 2019, were paid. 11. At yearend, adjusting entries were made. Depreciation on capital assets totaled $67,000. The Allowance for Doubtful Accounts was adjusted to $16,000. Accrued interest on investments was $900. The fair value of investments at yearend was $233,000. Of the income earned on investments, $4,300 was restricted. 12. Nominal accounts were closed and net position amounts were reclassied as necessary. Required ai. Prepare journal entries to record the foregoing transactions for the year ended June 30, 2020. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the rst account field.) A 01 Accounts ReceivableTuition and Fees 0 1,255,000 9 Tuition and Fees Discount and Allowances a 209,000 0 Tuition and FeesWithout Donor Restrictions 9 1,464.000 9 El 02 Unearned Revenue 0 26.000 0 RevenuesTuition and Fees 0 26.000 0 C 03 No Journal Entry Required 0 o 04 Cash 0 2,580,000 a RevenuesState Appropriations a 2,580. 000 o E 05 Capital Assets 0 456.000 9 Cash 0 456,000 9 F 06 Cash 0 697,000 9 RevenuesGifts and Grants 0 697,000 a G 0? ExpensesInterest a 43.000 0 Cash 0 43.000 9 8(a) RevenuesTuition and Fees 0 102.000 0 Cash 9 102.000 9 8(b} Cash 9 1325.000 9 Accounts ReceivableTuition and Fees 0 1,198.000 a Unearned Revenue 0 119.000 0 RevenuesInvestment Income 0 9.000 0 9(3) ExpensesGeneral 0 3242.000 0 ExpensesResearch a 27.000 0 Accounts Payable 9 3269.000 9 9(b) Accounts Payable 9 3,305,000 a Cash 9 3,305,000 9 9(c] Grant Receivable 9 27,000 9 RevenuesGifts and Grants 9 27,000 9 10 Accrued Liabilities 9 37,000 9 Cash 9 37,000 9 11(6) Provision for Bad Debts 9 3,000 9 Allowance for Doubtful accounts a 3.000 a 11(b} ExpensesDepreciation a 6?,000 0 Accumulated Depreciation a 67,000 0 11(0) Interest Receivable a 000 0 RevenuesInvestment Income 0 900 9 11(0) Investments 0 16,000 0 RevenuesChanges in Fail Value of Investments 82. Prepare closing entries for the year ended June 30, 2020. [If no entry is required for a trunsactiont'event, select "No Journal Entry Required" in the first account eld.) 8 Answer is not complete. A 12(a) RevenuesTuition and Fees 9 1,388,000 9 RevenuesState Appropriations 0 2,580,000 0 RevenuesGifts and Grants 0 724,000 0 RevenuesChanges in Fair Value of Investments 0 16,000 0 RevenuesInvestment Income 0 9,900 0 Tuition and Fees Discount and Allowances 9 209,000 0 ExpensesDepreciation 0 6?,000 0 Provision for Bad Debts a 3,000 o ExpensesInterest 0 43,000 a ExpensesGeneral 0 3,242,000 a ExpensesResearch 0 27,000 a Net PositionUnrestricted 9 1,128,000 9 s 12(0) Net PositionUnrestricted 0 389,000 0 Net PositionNet Investment in Capital Assets 9 389,000 0 C 12(0) Net PositionRestricted 6 Net PositionUnrestricted e SOUTH STATE UNIVERSITY Statement of Net Position June 30, 2020 Assets Cash Accounts Receivable Interest Receivable Grant Receivable Investments Capital Assets Add: Accumulated Depreciation 0 Total Assets 0 Liabilities Accounts Payable Unearned Revenue Bonds Payable Total Liabilities $ 0 Net Position Net Investment in Capital Assets Net Assets-With Donor Restrictions Net Assets-Without Donor Restrictions Total Net Position 0