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The Following Data Applies to the Next Two Questions

Question 99

Multiple Choice

The following data applies to the next two questions.
•Northern University has a fiscal year end of June 30.
•In June 2014, tuition and fees of $1,200,000 was assessed for the summer term that runs from June 1, 2014 through August 31, 2014. $1,200,000 was collected on June 1, 2014.
-What is the journal entry on June 1 for Northern?


A) The following data applies to the next two questions. •Northern University has a fiscal year end of June 30. •In June 2014, tuition and fees of $1,200,000 was assessed for the summer term that runs from June 1, 2014 through August 31, 2014. $1,200,000 was collected on June 1, 2014. -What is the journal entry on June 1 for Northern? A) B) C) D)
B) The following data applies to the next two questions. •Northern University has a fiscal year end of June 30. •In June 2014, tuition and fees of $1,200,000 was assessed for the summer term that runs from June 1, 2014 through August 31, 2014. $1,200,000 was collected on June 1, 2014. -What is the journal entry on June 1 for Northern? A) B) C) D)
C) The following data applies to the next two questions. •Northern University has a fiscal year end of June 30. •In June 2014, tuition and fees of $1,200,000 was assessed for the summer term that runs from June 1, 2014 through August 31, 2014. $1,200,000 was collected on June 1, 2014. -What is the journal entry on June 1 for Northern? A) B) C) D)
D) The following data applies to the next two questions. •Northern University has a fiscal year end of June 30. •In June 2014, tuition and fees of $1,200,000 was assessed for the summer term that runs from June 1, 2014 through August 31, 2014. $1,200,000 was collected on June 1, 2014. -What is the journal entry on June 1 for Northern? A) B) C) D)

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