George is a full time student at a local college. During the fall semester, he received a $4,250 scholarship from a local foundation. He spent the entire $3,000 student loan and another $1,850 during this semester. He made the following expenses: tuition $2000, books $750, board and lodging $2,000. How much of the $4,250 scholarship should George report as income?
Correct Answer:
$1500
Explanation:
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