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Discuss how much should the county recognize as revenues

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Reference no: EM131758374

Oak County was awarded a federal grant of $600,000 to provide a summer youth employment program. The grant, a reimbursement grant, was awarded April 30, 2017. The county expended resources as follows: June 2017, $220,000; July 2017, $200,000; August 2017, $180,000. The federal government reimbursed Oak County 30 days in arrears for each grant report presented. If Oak County's fiscal year ends June 30, 2017, how much should the county recognize as revenues?

a. $0

b. $220,000

c. $420,000

d. $600,000

Reference no: EM131758374

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