Tampa City receives a notice for $300,000 grant from the state to purchase vans to...
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Accounting
Tampa City receives a notice for $300,000 grant from the state to purchase vans to transport patients to the hospital and doctors. Tampa City did not receive the grant funds during the current year, the city purchased one bus for $185,000 and issues a purchase order for another van for $100,000. The grant revenue that the city should recognize in the government-wide financial statements in the current year is
Select one:
a. $185,000
b. $100,000
c. $-0-
d. $285,000
e. $300,000
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