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a city receives a $200,000 grant from the state to purchase vans to transport physically challenged individuals. during the current year, the city receives the

a city receives a $200,000 grant from the state to purchase vans to transport physically challenged individuals. during the current year, the city receives the entire 200,000 and purchases a bus for $85,000, and issues a purchase order for another van for $80,000. report the grant revenue transaction that the city should recognize on the government fund financial statements. make sure you indicate the correct journal entry and fund type.

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