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A government universitys tuition and fees at the standard rates are $20 million. Scholarship allowances...

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Accounting

A government universitys tuition and fees at the standard rates are $20 million. Scholarship allowances of $1,500,000 are granted to students by the university and tuition waivers for employees granted under the universitys tuition waiver policy are $100,000. Uncollectible accounts are expected to equal $150,000. The amount of tuition and fees revenues that the university should report is:

  1. $18,250,000.
  2. $18,350,000.
  3. $18,500,000.
  4. $20,000,000.

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