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1 point ABC Company recently accepted a donation of land with a fair value of P300,000 from an unrelated party. The entry that ABC should
1 point ABC Company recently accepted a donation of land with a fair value of P300,000 from an unrelated party. The entry that ABC should use to record this land is: O Dr. Plant - P300,000; Cr. Gain from Receipt of Donated Plant - P300,000 O Dr. Land - P300,000; Cr. Gain from Receipt of Donated Land - P300,000 O Dr. Land300,000; Cr. Unrealized Gain from Receipt of Donated Land - P300,000 Land - P300,000; Retained Earnings - P300,000
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