A Capital Projects Fund Received a $300,000 Transfer from the General

Multiple Choice

A Capital Projects Fund received a $300,000 transfer from the General Fund and $200,000 of a $500,000 unrestricted state grant for a highway project. The grant is being paid in two phases-$200,000 in Year 1 and $300,000 when the project is completed (which is anticipated to be at the end of Year 2) . Capital Projects Fund revenues reported at the end of Year 1 should be

A) $0.
B) $200,000.
C) $300,000.
D) $800,000.