A Local Government Was Awarded a Federal Grant in the Amount

Multiple Choice

A local government was awarded a federal grant in the amount of $900,000 to provide for a summer youth employment program for young people.The grant was a reimbursement grant,and a notification of the grant award was received on Apri1 30,2014.The local government expended the resources as follows:
•June,2014,$350,000;
•July,2014,$300,000;
•August,2014,$250,000.
The federal government sent the funds in the month following the expenditure.The local government would recognize revenues for the fiscal year ended June 30,2014 in which amount?

A) $900,000.
B) $650,000.
C) $350,000.
D) $ -0-.