A debit to Internal Balances. 5. On May 1, the City of Dustin was notified of approval of a $300,000 local operating grant payable on a reimbursement basis as the city expends resources for the intended purpose of grant. As of May 1, no expenditures had been made for grant purposes. The journal entry to record approval of this grant will include: * (1 Point) O No journal entry will be made until expenditures for the authorized purpose occur. A credit to Revenues in the amount of $300.000. A debit to Grants Receivable in the amount of $300,000. A credit to Deferred Inflows of Resources-Grant Proceeds in the amount of $300.000, Submit B H P", Other financing use. 4. The General Fund used electricity provided by the city-owned electric utility (an enterprise fund of the city). The governmental activities journal entry to record the transaction will include: (1 Point) No entry would be recorded since the transaction is between two funds of the same government. A debit to Expenses. A debit to Expenditures, A debit to Internal Balances. 5. On May 1, the City of Dustin was notified of approval of a $300,000 local operating grant, payable on a reimbursement basis as the city expends resources for the intended purpose of the grant. As of May 1, no expenditures had been made for grant purposes. The journal entry to