Eastern university had the following transactions at the beginning of its academic year: student tuition and fees were billed in the amount of $7,090,000. of that amount, $4,580,000 was collected in cash. pell grants in the amount of $2,009,000 were received by the university. the pell grants were applied to student accounts. student scholarships, for which no services were required, amounted to $520,000. these were applied to student tuition bills at the beginning of each semester. required: prepare journal entries to record the above transactions assuming: a. eastern university is a public university. b. eastern university is a private university.