The state awards a grant of $100,000 to the City of Wilhem. The state will pay the grant money to the town as a reimbursement for money spent on road repair. During the first year of this program the town spent an allowable $25,000 and applied for reimbursement. What amount of revenue should be recognized in the first year? $25,000 with $75,000 Fund balance restriction $100,000 with $75,000 Fund balance restriction $25,000 with $75,000 Fund balance restriction $25,000 with $-0-Fund balance restriction. Next > Previous