A city was awarded a 600,000 federal grant to help finance a bridge construction project that is expected to take two years to complete.
The grant will be paid in two installments: (1) 60 (nonrefundable) at the beginning of the project in Year 1, and (2) 40 when the project is completed. Capital Projects Fund revenue should be recognized in Year 1 in the amount of
a. 0
b. 600,000
c. 300,000
d. 360,000
e. 240,000
Question 2
Stryker Company issued a check for June rent in the amount of 650 . In what journal would this transaction be recorded.
a. Sales Journal
b. Cash Payment Journal
c. Cash Receipt Journal
d. General Journal
The giant grass hoppers are invading the city!
Claude Monet, Bridge over a Pool of Water Lilies.
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