On May 10, 2019, GUAVA Company received a grant of 8,000,000 from the British Government...
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Accounting
On May 10, 2019, GUAVA Company received a grant of 8,000,000 from the British Government for the construction of a laboratory and research facility with an estimated cost of 10,000,000 and a useful life of 5 years. The facility was completed in early 2020. How much should GUAVA Company include in its 2020 income statement as income from the government?
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