Enron Company decided to relocate its headquarters to Westwego City in Jefferson Parish. To attract this high-tech company, the City agreed to pay 20% of the $20 million costs of the headquarters. The building was completed on May 2, 2009. Enron received 20% percent in cash.Required:Prepare the Journal entries Enron should make in its General Journal.

when any amount is received from government for any specific purpose it is to be treated as…

Answered: Enron Company decided to relocate its…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Enron Company decided to relocate its headquarters to Westwego City in Jefferson Parish. To attract this high-tech company, the City agreed to pay 20% of the $20 million costs of the headquarters. The building was completed on May 2, 2009. Enron received 20% percent in cash.

Required:

Prepare the Journal entries Enron should make in its General Journal.

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