In 2022, Martinez Ltd. received a grant for V2.48 million to defray the cost of...
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Accounting
In Martinez Ltd received a grant for V million to defray the cost of purchasing research equipment for its manufacturing facility. The total cost of the equipment is Y million. Prepare the journal entry to record this transaction if Martinez uses a the deferred revenue approach, and b the reduction of asset approach.
In Martinez Ltd received a grant for V million to defray the cost of purchasing research equipment for its manufacturing facility. The total cost of the equipment is Y million.
Prepare the journal entry to record this transaction if Martinez uses a the deferred revenue approach, and b the reduction of asset approach.
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