In june 2015, a public university bills and collects $45 million in tuition for the summer semester that runs from june 1 through july 15. in addition, in may and june it bills $300 million for the fall semester that runs from september 1 through december 15. of this amount it collects only $120 million (expecting to collect the balance prior to september 1). in its statement of revenues, expenses, and changes in net position for the fiscal year ending june 30, 2015 it should recognize as tuition revenue
answer is $30 million. show how to get this answer and explain?

Colorado rocky cookie company offers credit terms to its customers. at the end of 2018, accounts receivable totaled $715,000. the allowance method is used to account for uncollectible accounts. the allowance for uncollectible accounts had a credit balance of $50,000 at the beginning of 2018 and $30,000 in receivables were written off during the year as uncollectible. also, $3,000 in cash was received in december from a customer whose account previously had been written off. the company estimates bad debts by applying a percentage of 15% to accounts receivable at the end of the year. 1. prepare journal entries to record the write-off of receivables, the collection of $3,000 for previously written off receivables, and the year-end adjusting entry for bad debt expense.2. how would accounts receivable be shown in the 2018 year-end balance sheet?