[m123sai]

On the same date the state announced a $10 million

Grant to another school district for the acquisition of

Equipment. However, per the provisions of this grant the

State will make payments only upon receiving documentation

From the district that it has incurred allowable

Costs. In fiscal 2013, the district incurred and documented

Allowable costs of $8 million. Of this, the state

Paid only $7 million, expecting to reimburse the district

For the balance early in fiscal 2014.Prepare the journal entries that the state would make

In fiscal 2013 to record the awards in an appropriate

Governmental fund. Briefly justify the amount of

Expenditure that you recognized

[paraclete]

And this is different from any other purchase, how?

Students need to complete their own assignments, make their own mistakes and accept correction..