Charges for Tuition for the Current Semester of a Local

Charges for tuition for the current semester of a local college totaled $300,000. Academic scholarships were awarded to students in the amount of $25,000 and tuition waivers were given to children of employees in the amount of $10,000. The college should report

A) Revenues of $265,000 and Expenses of $35,000
B) Revenues of $275,000, net of $25,000 in allowances, and $10,000 in Expenses.
C) Revenues of $290,000, net of $10,000 in Allowances, and $25,000 in Expenses.
D) Revenues of $300,000 and Expenses of $35,000.