prepare in general journal from the entries required for each of the following selected transactions of Northern University, a private institution. fiscal year end 12/31/2020.

1. a generous alumnus donated $300,000 that can only be used for research on diabetes. the university collected $100,000 this year, and will collect the remainder if a matching grant can be obtained.

2. during the current fiscal year, expenses of $75,000 were made in cash for diabetes research (see item 1 above)

3. the university sent out $4,500,000 in tuition bills for the spring semester, in addition, the university awarded $325,000 in scholarships. the university collected $3,175,000 by the end of the year.

4. the university refunded $15,000 of housing deposits for students that will not be returning in the spring semester.