A city was awarded a 600,000 federal grant to help finance a ...

[DyllonKazuo]

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

[lorealeza77]

Answer to Question 1

D

Answer to Question 2

b

[DyllonKazuo]

Thank you

[lorealeza77]

Happy to help you