Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Art & Design Posted 29 Jul 2017 My Price 4.00

Private University

 

 

Exercise 4 (LO 1, 2, 3, 4) Private universities, loans. Record the following events that affect the loan activities of Private University:

1.     An alumnus donates $420,000 to establish the student loan fund. Students are charged a 5% annual interest rate.

2.     Loans of $380,000 are made to students.

3.     The remaining $40,000 is deposited in the university credit union, which pays a current interest rate of 7%.

4.     Loans of $20,000 are repaid, plus $800 of interest.

5.     Interest of $1,400 is received from the university credit union.

6.     A student who had borrowed $1,000 was in a serious automobile accident and withdrew from school. The university wrote off the loan as uncollectible.

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Maurice Tutor
(5)
Status NEW Posted 29 Jul 2017 09:07 PM My Price 4.00

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