.

Example 6 In August of 2015, the Auburn City Schools was awarded a School Lunch Grant for $50,000. The terms of the grant permitted reimbursement only after the meals were provided to the students. The grant could be used for the 2015-2016 academic year. By December 31, 2015 meals with a value of $27,000 had been provided. A properly documented request for reimbursement was sent to the federal government. Required: Prepare entries for 2015