Ballard University,a private not-for-profit,billed four students for tuition and fees each in the amount of $8,450 each for fall semester.The University estimates 20% of tuition and fees will prove to be uncollectible.The University collected $9,422 as follows:
Required:
Prepare the journal entries to record the billing and subsequent collection or write-off for the transactions listed above.

Question

Ballard University,a private not-for-profit,billed four students for tuition and fees each in the amount of $8,450 each for fall semester.The University estimates 20% of tuition and fees will prove to be uncollectible.The University collected $9,422 as follows:
  Required:
 Prepare the journal entries to record the billing and subsequent collection or write-off for the transactions listed above.

Quizplus · Accepted Answer

The Answer of Ballard University,a private not-for-profit,billed four students for tuition and fees each in the amount of $8,450 each for fall semester.The University estimates 20% of tuition and fees will prove to be uncollectible.The University collected $9,422 as follows:
  Required:
 Prepare the journal entries to record the billing and subsequent collection or write-off for the transactions listed above.

Ballard University,a Private Not-For-Profit,billed Four Students for Tuition and Fees