An entity purchased an equipment for RM100,000 on 1 January 2019. Its useful life is 5 years. On the same day, the entity received a government grant of RM10,000 to help finance the purchase of the equipment. If the company chooses to deduct the grant from the cost of the equipment, the journal entry to recognise the government grant recieved would be:

Debit income from grant(SOPL)RM10,000

Credit PPE (SOFP)RM10,000

TRUE OR FALSE?