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47. Centre College, a private liberal arts college in Central Kentucky, charged (billed) tuition and...

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Accounting

47. Centre College, a private liberal arts college in Central Kentucky, charged (billed) tuition and fees of $50,000 based on the registration of students; Centre provided scholarships of $12,000 to the registered students. The entry to bill the tuition and fees and scholarships would include a:

A. Debit to Tuition and Fees, $50,000.

B. Debit to Tuition Discounts and Allowances, $12,000.

C. Credit to Tuition and Fees, $38,000.

D. Credit to Tuition Discounts and Allowances, $14,000.

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