Grant accounting; fund balance classification Thayer School District accounts for all activities in its General Fund. The school district receives the following grants: 1. Grant A: Thayer seeks to be reimbursed by the state for costs incurred in teaching students with disabilities. To receive reimbursement, the district must submit quarterly reports showing its expenditures, which it has done. Its expenditures for the quarter September through November 2022 were $517,500. Prepare separate journal entries to record its expenditures under the grant and its billing to the state. 2. Grant B: Thayer receives a grant in the amount of $115,000 from the federal government for the sole purpose of teaching students with disabilities. The grant contains no time limits and may be used any time after the school district receives the grant. Prepare three separate journal entries to record receipt of the $115,000 grant, expenditure of $74,750 on the grant during school year 2022, and year-end classification of fund balance.

Answer options are: -Cash -Due from State Government -Restricted Fund Balance -Revenues - Intergovernmental Grants -Unassigned Fund Balance

Please also include the amounts that would be included in the additional columns.

	Account	Debit	Credit
1a.
	To record expenditures for special education program.
b.
	To record billing to state.
2a.
	To record receipt of grant.
b.
	To record expenditures on grant.
c.
	To record restriction for financial reporting purposes.