Evergreen County acts as the disbursing agent for a state grant for the performing arts. The state is responsible for determining which local governments are eligible for the grant money and for following up to ensure that the recipients comply with the requirements of the grant. The county receives the grant funds and disburses them according to the schedule provided by the state. When the county was asked to participate, the countys attorney was concerned that the county might be held responsible for any disallowed costs. The state agreed to accept responsibility for any disallowed costs, so the county decided to act as the agent for the state for this grant.

The schedule for the grant funds for 2017 is shown below.

City of Boulder	$	2,100,000
Aspen Township		1,400,000
Snowton		900,000
Firtree Village		600,000
Total	$	5,000,000

Prepare the general journal entries necessary to record Evergreen Countys receipt of the money on December 31, 2017 (the end of its fiscal year) and disbursement of the grant funds on January 2, 2018