Consider the Following Transactions for the University of Northland (Private)

question 58

Essay

Consider the following transactions for the University of Northland (private):
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a.On January 1st a gift of $100,000 was received from an alumnus.She requested one half be used for student loans and the other as a pure endowment contribution.​
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b.Loans totaling $25,000 are made to students.Collections from other loans made to students total $30,000 plus $3,000 interest.​
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c.During the year, investments of $20,000 were sold for $30,000.Any gain is restricted for improvements in classroom instruction.​
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d.During the year, interest charges of $5,000 were earned and collected on late student fee payments.​
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e.A student loan of $500 is deemed uncollectible.​f.During the year, operating expenses of $150,000 were recorded.At the end of the year, $25,000 remains unpaid.​

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Definitions:

CRM

Customer Relationship Management, a strategy and technology for managing a company's interactions with current and potential customers.

TPS

An information system known as the Transaction Processing System is built to accumulate, preserve, change, and access transactions data for an organization.

IS Systems

"Information Systems," integrated sets of components for collecting, storing, and processing data and for providing information, knowledge, and digital products.

Internal Processes

The procedures and activities conducted within an organization to ensure effective operation and fulfillment of the organization's goals.