In the Current Year,Generous University Awarded Scholarships to Graduate Students $\begin{array}{lll} \text {Scholarship expense } & \$ 5,000,000 \\ \text { Accounts payable} &&\$ 5,000,000\\\end{array}$

In the current year,Generous University awarded scholarships to graduate students in the amount of $5,000,000.The recipients are not required to provide any services in return for the scholarships.How should the university record the award? a)
$\begin{array}{lll} \text {Scholarship expense } & \$ 5,000,000 \\ \text { Accounts payable} &&\$ 5,000,000\\\end{array}$

b)
$\begin{array}{lll} \text { Tuition deductions-unrestricted }\\ \text { student aid } & \$ 5,000,000 \\ \text { Accounts receivable } &&\$ 5,000,000\\\end{array}$

c)
$\begin{array}{lll} \text { Scholarship expense } & \$ 5,000,000 \\ \text { Accounts receivable } &&\$ 5,000,000\\\end{array}$

d)
$\begin{array}{lll} \text { Tuition deductions - unrestricted }\\ \text { student aid} & \$ 5,000,000 \\ \text { Accounts payable } &&\$ 5,000,000\\\end{array}$