Southeastern State 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 1,2011 in the amount of $7,600,000.Record the following transactions related to revenue recognition for the year ended June 30,2012.Include in the account titles the proper revenue classification (operating revenues,nonoperating revenues,etc.):
Definitions:
Supreme Court
The highest judicial body in the United States, consisting of nine Justices and holding the final word on matters of federal law, including constitutional interpretation.
Fetus Viability
The stage of fetal development at which the fetus is capable of surviving outside the uterus, generally considered to be around 24 weeks of gestational age.
Miranda v. Arizona
A landmark Supreme Court decision that established the requirement for police to inform detained or arrested individuals of their rights to silence and legal counsel.
Arrested Criminal Suspect
An individual who has been taken into custody by law enforcement on suspicion of having committed a crime.
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