County A was awarded a $900,000 expenditure-driven grant in year 1 for a capital project that is
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County A was awarded a $900,000 expenditure-driven grant in year 1 for a capital project that is expected to take three years to complete. Project expenditures are financed by weekly cash draws from a local bank. As of the end of Year 1 the county had incurred expenditures of approximately $50,000. The county should recognize Capital Projects Fund revenue at the end of Year 1 in the amount of----?
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