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WhiteCountywasawardeda$5milliongrantbyitsstate,toaidintheconstructionofaseniorcitizenscenter.Ifthecountyhasmetalleligibilityrequirements,whatentrywoulditrecordingovernmentalfundswhenitwasnotifiedofthegrant? a.DebitGrantsReceivable,CreditRevenue b.DebitGrantsReceivable,CreditDeferredInflowofResources c.DebitGrantsReceivable,CreditOtherFinancingSource(NonreciprocalTransferIn) d.Noentryshouldberecorded.

  1. WhiteCountywasawardeda$5milliongrantbyitsstate,toaidintheconstructionofaseniorcitizenscenter.Ifthecountyhasmetalleligibilityrequirements,whatentrywoulditrecordingovernmentalfundswhenitwasnotifiedofthegrant?
  2. a.DebitGrantsReceivable,CreditRevenue
  3. b.DebitGrantsReceivable,CreditDeferredInflowofResources
  4. c.DebitGrantsReceivable,CreditOtherFinancingSource(NonreciprocalTransferIn)
  5. d.Noentryshouldberecorded.

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