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Alona [7]
3 years ago
14

A city was awarded a $600,000 federal grant to help finance a bridge construction project that is expected to take two years to

complete. The grant will be paid in two installments: (1) 60% (nonrefundable) at the beginning of the project in Year 1, and (2) 40% when the project is completeD. Capital Projects Fund revenue should be recognized in Year 1 in the amount ofA. $600,000
B. $360,000
C. $240,000
D. $0
Social Studies
1 answer:
Vitek1552 [10]3 years ago
5 0

Answer:360,000

Explanation:

60% IN THE FIRST YEAR ITS A TWO YEAR PROJECT AND 40 THE FOLLOWING YEAR .

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