Business
Business, 04.04.2020 02:27, chutchins0406

A local government was awarded a federal grant in the amount of $800,000 to provide for a summer youth recreation program. The grant was a reimbursement grant, and a notification of the grant award was received on April 30, 2020. The local government expended the resources as follows: June 2020: $250,000 July 2020: $285,000 August 2020: $265,000 The federal government sent the funds in the month following the expenditure. The local government would recognize revenues for the fiscal year ended June 30, 2020 in which amount? Multiple Choice $0. $550,000. $250,000.

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