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Steiner College's statement of financial position for the year ended June 30,2022 , is presented here. Steiner is a private college Journal entry worksheet Record the entry to reclassify the net assets accounts. Note: Enter debits before credits. Prepare closing entry for the year ended June 30, 2023. (If no entry is required for a transaction/event, select " Required" in the first account field. Enter your answers in thousands.) Journal entry worksheet Record the closure of the nominal accounts. Note: Enter debits before credits. Journal entry worksheet Record the transfer to the with donor restrictions account. Note: Enter debits before credits. Journal entry worksheet Record the transfer to the net assets-with donor restrictions account. Note: Enter debits before credits: The following transaction information (amounts in thousands) pertains to the year ended June 30, 2023 . 1. During the year, charges for tuition and fees were $244,500, scholarships were $16,300, and tuition waivers for scholastic achievement were $5,100. After payment was received, tuition refunds of $11,200 were given. Tuition walvers of $17,300 for students serving as teaching assistants for instruction were accrued. 2. The college recelved cash contributions without donor restrictions of $2,080, pledges to be collected in 2024 of $550, and cash contributions to the endowments of $335. It also collected $820 of Pledges Receivable that were unrestricted. 3. Collections on Tuition and Fees Receivable totaled $222,600. 4. Net deposits returned to students totaled $10 5. Expenses were incurted for: Related to the expenses incurred: prepaid assets of $534 were used, $4,776 of the expenses were accrued, and the remaining expenses were poid. Expenses incurred resulted in the release of $7,320 in net assets with donor restrictions. 6. The ending balance in Accounts Payable and Accrued Liabilities wis $1,935. 7. Investment earnings recelved for the period were $3,960, of which $2,070 was donor restricted for scholarships. 8. Adjusting entries for the period were made to increase Allowance for Doubtful Accounts by $20, to record depreciation expense of $26.400 (charged 70 percent to instruction and 30 percent to acodemic support), to adjust tuition revenue for an increase in deferred revenue of $10, and to recognize an increase in fair value of investments of $4.700 (\$790 was related to investments restricted for scholarships, $1,610 was related to the permanent endowment, and the remainder was refated to net assets without donor restrictions) 9. Nominal accounts were closed

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