Huskian Refineries Inc. receives a grant of $ 1,000,000 on June 1 , 2019 from the Canadian federal government to upgrade its emission control equipment in its oil refinery in Fort McMurray , Alberta . The new emission control equipment has a 20 year life and is depreciated using the straight - line method . ( Huskian Refineries Inc.'s year - end is March 31st ) . Required : Using the net method prepare Huskian Refineries journal entry to record the receipt of the grant June 1 , 2019.