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 $800,000 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, 2017. The local government expended the resources as follows:
June 2017: $250,000
July 2017: $285,000
August 2017: $265,000
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, 2017 in which amount?

A) $800,000
B) $ -0-.
C) $550,000.
D) $250,000.