The trial balance of Boegner University a government

university on
The trial balance of Boegner University, a government university, on September 1, 20X7, was
as follows:Boegner University’s dormitory and food service facilities are operated as auxiliary
enterprises. The following transactions took place during the current fiscal year:1. Collections
amounted to $2,270,000, distributed as follows: tuition and fees, $1,930,000; unrestricted gifts,
$170,000; sales and services of educational activities, $115,000; other sources, $25,000;
accounts receivable, $30,000.2. Receivables at year end were $29,000, consisting entirely of
tuition and fees revenues.3. It is estimated that tuition receivable of $3,000 will never be
collected.4. Revenues from auxiliary enterprises were $300,000, all collected.5. Materials
purchased during the year for cash, $500,000; on account, $50,000.6. Materials used amounted
to $510,000, distributed as follows:7. Salaries and wages paid:8. Other expenses paid:9.
Interest expenses chargeable to Institutional Support, $3,000, were paid.10. Vouchers payable
paid, $40,000.RequiredPrepare journal entries for Boegner University for the 20X7–20X8
fiscalyear. View Solution: The trial balance of Boegner University a government university on
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