The following information pertains to Northern State University, a government owned university, for the month of March,

[answerhappygod]

The Following Information Pertains To Northern State University A Government Owned University For The Month Of March 1 (81.37 KiB) Viewed 56 times

The following information pertains to Northern State University, a government owned university, for the month of March, 20X1. 1. During the month, the university received an unrestricted appropriation of $4,000,000 from the state. 2. The university billed tuition and fees totaling $3,400,000 and provided $280,000 in scholarship waivers. 3. An alumnus donated $900,000 in cash with $200,000 earmarked for construction of a new library. 4. Equipment for the student computer labs was purchased for cash in the amount of $485,000. 5. Interest of $32,000 on bonds payable was paid. 6. Investment income of $49,000 was earned and collected. 7. The university collected $2,485,000 of the tuition and fees billed earlier. 8. Refunds of $97,200 were made for tuition and fees. 9. General expenses of 3,976,000 related to administration of academic programs was paid. 10. Accrued liabilities of $16,800 were paid. 11. Month end entries included the following: Depreciation - $74,000; Allowance for doubtful accounts - 17,800; accrued interest earned on investments - $1,460. Required: Prepare journal entries for each of the foregoing (Problem # 2) transactions in an Excel worksheet. Label each entry clearly and use Excel formulas for all calculated numbers.