Accounting for Grant Revenue Record entries for the following events and transactions: 1. The receipt of the award. 2. The expenditure of $1,100,000 during the first six months for farm maintenance 2. The expenditure of $1,100,000 during the first six months for farm main (Farm mance expenses are consistent with the grant's purpose.) 3. The expenditure of an additional $1,512,500 through the remaining six months of the fiscal year, also for farm maintenance. Eddings University was not able to spend the remaining $137,500 associated with the grant. If no adjustment is necessary, select 'No debit (or credit) entry needed' in the account fields and enter 0 in the amount fields. \begin{tabular}{|c|c|c|} \hline Account & Debit & Credit \\ \hline & 0 & 0 \\ \hlinev & 0 & 0 \\ \hline \multicolumn{3}{|l|}{ 1. To record receipt of grant funds. } \\ \hline & 0 & 0 \\ \hlinev & 0 & 0 \\ \hline \multicolumn{3}{|l|}{Torecordexpendituresrelatedtograntinfirstsixmonths.} \\ \hline & 0 & 0 \\ \hline & 0 & 0 \\ \hline \multicolumn{3}{|l|}{ To record grant revenue for first six months. } \\ \hline & 0 & 0 \\ \hlinev & 0 & 0 \\ \hline \multicolumn{3}{|l|}{ To record expenditures related to grant in final six months. } \\ \hline & 0 & 0 \\ \hline & 0 & 0 \\ \hline \multicolumn{3}{|l|}{ To record grant revenue for final six months. } \\ \hline & 0 & 0 \\ \hline & 0 & 0 \\ \hline To record unspent grant funds. & & \\ \hline \end{tabular}