Solved: In the fall of 2017 lunches with a value of 94000 had been, Accounting Basics

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In the fall of 2017 lunches with a value of 94000 had been

Question - The City of Tampa received a $200,000 reimbursement grant from the State of Florida to provide school lunches to those in need. The grant is for the 2017- 2018 academic year. The city will be reimbursed after the lunches have been provided. In the fall of 2017, lunches with a value of $94,000 had been provided. How much REVENUE should be recognized by the City in 2017?

A. $0

B. $200,000

C. $100,000

D. $94,000

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Accounting Basics: In the fall of 2017 lunches with a value of 94000 had been

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