Bellanger is awarded 300,000 to compensate staff costs expected to total 750,000. During the year it recognises 150,000 of these costs. Case conventions: the grant is matched in proportion to the compensated costs recognised, and it is paid at the end of the programme (a receivable at this stage). Record the entry for the year.
- Grant awarded
- 300,000
- Total expected compensated costs
- 750,000
- Compensated costs recognised in the year
- 150,000