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Hatshy [7]
3 years ago
12

Eastern University had the following transactions at the beginning of its academic year: Student tuition and fees were billed in

the amount of $7,150,000. Of that amount $4,620,000 was collected in cash. Pell Grants in the amount of $2,012,000 were received by the university. The Pell Grants were applied to student accounts. Student scholarships, for which no services were required, amounted to $570,000. These were applied to student tuition bills at the beginning of each semester. Required: Prepare journal entries to record the above transactions assuming: a. Eastern University is a public university. b. Eastern University is a private university.
Business
1 answer:
Thepotemich [5.8K]3 years ago
5 0

Answer:

100

Explanation:

hope this helps

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In the Investment marketplace, Investors will likely accept a high-risk investment only if it promises
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The use of accelerated depreciation:____.a. discourages investment in plant and equipment. b. increases expenses and decreases c
Elena-2011 [213]

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c. initially decreases the firm's taxes

Explanation:

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3 years ago
The National Recovery Administration (NRA) failed largely because a Harold Ickes, the head of the agency, proved to be an incomp
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Answer:

b. it required too much self-sacrifice on the part of industry, labor, and the public.

Explanation:

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5 0
3 years ago
This is a partial adjusted trial balance of Wildhorse Co.. WILDHORSE CO. Adjusted Trial Balance January 31, 2022 Debit Credit Su
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Answer:

The entries are made as follows;

Explanation:

Service Revenue             Dr.$4,350

Income Summary            Cr.$4,350

(To close revenue account)

Income Summary

Supplies expense         Dr.$910

Insurance Expense       Dr.$540

Salaries and Wages Expense Dr.$1,770

Income Summary                                         Cr.$3,220

(To close expenses)

Income Summary (4,350-3,220)   Dr.$1,130

Retained Earnings                         Cr.$1,130

7 0
2 years ago
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