Rural Co Received a $100 000 Grant from the Government on on 1

Rural Co. received a $100 000 grant from the government on 1 July 2016. One of the conditions attached to the grant was the Rural Co had to continue farming in the same location for the following two years, otherwise the grant would have to be retuned in full. The entry to record the receipt of the grant is:

A) $\begin{array}{llll}\text { DR } &\text { Cash }& 100,000 \\\text { CR }& \text { Revenue } & 100,000 \\\end{array}$
B) $\begin{array} { l l l l } \text { DR } & \text { Cash } & 100,000 & \\ \text { CR } & \text { Revenue } & 50,000 \\\text { CR } & \text { Performance obligation } & 50,000\end{array}$
C) $\begin{array} { l l l r } \text { DR } & \text { Cash } &{ 100,000 } \\ \text { CR } & \text { Performance obligation } & 100,000\end{array}$
D) No entry required as the grant is conditional and cannot be recognised until the conditions attached to the grant are met.