L, an undergraduate accounting major, received a $5,000 scholarship during the year.She used the money for the following school-related expenses: tuition $800, books $300, room and board $3,000, and supplies $100.How much of the scholarship is included in L's gross income?

Question

Quizplus · Accepted Answer

The Answer of L, an undergraduate accounting major, received a $5,000 scholarship during the year.She used the money for the following school-related expenses: tuition $800, books $300, room and board $3,000, and supplies $100.How much of the scholarship is included in L's gross income?

L, an Undergraduate Accounting Major, Received a $5,000 Scholarship During