Southeastern State University, a public university, has chosen to report as a public university reporting as a special-purpose entity engaged only in business-type activities. Deferred Revenues were reported as of July 1, 2016 in the amount of $3,000,000. Record the following transactions related to revenue recognition for the year ended June 30, 2017. Include in the account titles the proper revenue classification operating revenues, nonoperating revenues, etc.:

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The Answer of Southeastern State University, a public university, has chosen to report as a public university reporting as a special-purpose entity engaged only in business-type activities. Deferred Revenues were reported as of July 1, 2016 in the amount of $3,000,000. Record the following transactions related to revenue recognition for the year ended June 30, 2017. Include in the account titles the proper revenue classification operating revenues, nonoperating revenues, etc.:

Southeastern State University, a Public University, Has Chosen to Report