Private universities, operating activities. Record the following operating activities: 1. Student fees of $600,000 were assessed, of which $575,000 has been collected and $4,000 is estimated to be...

Private universities, operating activities. Record the following operating activities:

1. Student fees of $600,000 were assessed, of which $575,000 has been collected and $4,000 is estimated to be uncollectible.

2. The bookstore operates in rented space and is run on a break-even basis. Revenues totaled $100,000, of which 80% was collected to date. Salaries of $35,000 and rent of $10,000 are paid. Other operating expenses amount to $60,000, of which $15,000 has not been paid.