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Prepare the journal entries to record the following events for Cost (private) University:
a.A federal grant of $100,000 was received for research.
b.Expenses for the research project totaled $50,000 to date.
c.Endowment income of $10,000 is restricted to student aid activities.
d.Incurred $10,000 of expenses for student aid of which all but $2,000 of expenses are paid.
Customer Benefit Plan
A strategic offering designed to provide additional value to customers, often through services or rewards, to enhance customer satisfaction and loyalty.
Sales Call Objective
The purpose or goal that a salesperson aims to achieve during a call to a potential or existing customer, such as making a sale, gathering information, or building a relationship.
Reseller
A company or individual that purchases goods or services with the intention of selling them rather than consuming or using them.
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