A private university receives $1,000,000 in fiscal year 2017 as a grant restricted for a specific research

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A private university receives $1,000,000 in fiscal year 2017 as a grant restricted for a specific research project and incurs expenses of $400,000 related to the research project during fiscal year 2017. Make all necessary journal entries to record the transactions related to the grant for fiscal year 2017
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Advanced Accounting

ISBN: 978-0538480284

11th edition

Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng

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