Kashickey College, an institution considered to be governmental in nature, had the following events occur during the year Tuition scholarships of $45,000 were granted during the year and $7,500 of tuition waivers were granted An alumnus donated land valued at $750,000 for the new administration bui...

The correct answer is b Capital Assets 750000 Invested ...

Kashickey College, an institution considered to be governmental in nature, had the following events occur during the

Kashickey College, an institution considered to be governmental in nature, had the following events occur during the year:

Tuition scholarships of $45,000 were granted during the year and $7,500 of tuition waivers were granted.
An alumnus donated land valued at $750,000 for the new administration building that is planned for next year.
Student aid from unrestricted resources was paid to qualifying students in the amount of $300,750.

How should the donated land be recorded in the college’s general ledger?

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