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On January 1, 2014, the Enterprise Fund for a local city receives an intergovernmental capital grant of $100,000 from the state government. Upon receipt of

On January 1, 2014, the Enterprise Fund for a local city receives an intergovernmental capital grant of $100,000 from the state government. Upon receipt of the cash on February 1, 2014, qualifying expenses of $100,000 for the operating grant will be incurred. What journal entry did the Enterprise Fund prepare on January 1, 2014?

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