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.

1. list five staple convenience goods that you or your household buys on a regular basis. (you do not need to use complete sentences. 2.5 points) 2. list three impulse convenience goods that you or someone you know has purchased. (you do not need to use complete sentences. 2.5 points) 3. describe a shopping good that you or someone you know purchased. what kind of research did you or that person do before buying the product? (1-5 sentences. 3.0 points) 4. choose an example of a company you could start, and decide which business structure would make the most sense for that type of company (sole proprietorship, partnership, llc, c corporation, s corporation, or nonprofit corporation). explain why this structure would be good for this type of company. give at least 3 reasons. (3-6 sentences. 6.0 points) 5. if you were starting a new business, describe at least three departments to the company that you would need right away. why are these departments so important? (1-5 sentences. 3.0 points) 6. describe a product that you think has saturated its market. what makes you think it has saturated its market? (1-5 sentences. 3.0 points)