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Eastern University had the following transactions at the beginning of its academic year: 1. Student...

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Accounting

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Eastern University had the following transactions at the beginning of its academic year: 1. Student tuition and fees were billed in the amount of $7,370,000. Of that amount $4,730,000 was collected in cash. 2. Pell Grants in the amount of $2,023,000 were received by the university. 3. The Pell Grants were applied to student accounts. 4. Student scholarships, for which no services were required, amounted to $790,000. These were applied to student tuition bills at th 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. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the above transactions assuming Eastern University is a public university. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 45 Record the student tuition and fees recelvable. Note: Enter debits before credits

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