USA How to record interest received on Government Grant


PAN

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City received 50 million dollars for development activities (example job creation during 10 years).

Portion of the money was invested ( we received 3 million interest on profit distribution – non restricted)

Can someone please tell me how to record this 3 million.

Thank you,
 
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Joined
Apr 1, 2020
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Hi Pan

For receipt of interest
DR Cash
CR Interest Income

Regards

Kat
 

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