1. On September 1, 2020, a student paid $6,000 for tuition for the academic year to...

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1. On September 1, 2020, a student paid $6,000 for tuition for the academic year to...

1. On September 1, 2020, a student paid $6,000 for tuition for the academic year to his college (half for fall 2020 and half for spring 2021). Provide all necessary journal entries for the student in 2020.

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Answer 1

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	A Student
	Journal Entries
Date	Account	Debit $	Credit $
9/1/2020	Prepaid Tuition Fees	6,000.00
	Cash		6,000.00

12/31/2020	Tuition Fees Expense	3,000.00
	Prepaid Tuition Fees		3,000.00

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1. On September 1, 2020, a student paid $6,000 for tuition for the academic year to...

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