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In 2021, Waverly Corp. set up a new manufacturing facility in Nova Scotia. To encourage Waverly to set up its factory, the province provided equipment

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In 2021, Waverly Corp. set up a new manufacturing facility in Nova Scotia. To encourage Waverly to set up its factory, the province provided equipment with a fair value of $250,000, and estimated residual value of $0, and an estimated useful life of 10 years using straight-line depreciation. What journal entry would be required in fiscal 2022, using the gross method? ... O A. A credit to other income-government grant of $25,000. OB. A credit to other comprehensive income-donated assets of $25,000. OC. A credit to depreciation expense for $25,000. OD. A credit to donation revenue of $25,000

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