In 2015, Sato Corporation received a grant for 2 million to defray the cost of purchasing research
Question:
In 2015, Sato Corporation received a grant for ¥2 million to defray the cost of purchasing research equipment for its manufacturing facility. The total cost of the equipment is ¥10 million. Prepare the journal entry to record this transaction if Sato uses
(a) the deferred revenue approach, and
(b) the reduction of asset approach.
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a Journal Entry using the Deferred Revenue Approach In the deferred revenue approach the grant is in...View the full answer
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Related Book For 
Intermediate Accounting IFRS Edition
ISBN: 9781118443965
2nd Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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