The following selected transactions affected the Current Unrestricted Fund of Franklin State (public) University during the current fiscal year:
a.Student tuition and fees billed for the year for $8,000,000, which was used for educational and general purposes. Prior experience shows $100,000 will be uncollectible.
b.$7,200,000 of the billings in part (a) were collected.
c.Unrestricted income from endowment funds amounted to $185,000.
d.Auxiliary enterprise included $175,000 from student residence halls; $200,000 from cafeterias; and $750,000 from the college store sales. All amounts have been collected.
e.$300,000 of Term Endowments funds are now available for unrestricted use.f. Operating Expenses are paid as follows: Instruction $300,000; Research $150,000; Academic Support $50,000; Student Services $25,000; Institutional Support $120,000 g. University's student aid committee granted student tuition and fee reductions of $200,000. h. Expenses from auxiliary enterprises amounted to $750,000

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The Answer of The following selected transactions affected the Current Unrestricted Fund of Franklin State (public) University during the current fiscal year:
a.Student tuition and fees billed for the year for $8,000,000, which was used for educational and general purposes. Prior experience shows $100,000 will be uncollectible.
b.$7,200,000 of the billings in part (a) were collected.
c.Unrestricted income from endowment funds amounted to $185,000.
d.Auxiliary enterprise included $175,000 from student residence halls; $200,000 from cafeterias; and $750,000 from the college store sales. All amounts have been collected.
e.$300,000 of Term Endowments funds are now available for unrestricted use.f. Operating Expenses are paid as follows: Instruction $300,000; Research $150,000; Academic Support $50,000; Student Services $25,000; Institutional Support $120,000 g. University's student aid committee granted student tuition and fee reductions of $200,000. h. Expenses from auxiliary enterprises amounted to $750,000

The Following Selected Transactions Affected the Current Unrestricted Fund of Franklin