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Government and Not-for-Profit Accounting Last month a local government collected property taxes, collected gas taxes reserved for highway expansion, and received a monetary contribution from
Government and Not-for-Profit Accounting
Last month a local government collected property taxes, collected gas taxes reserved for highway expansion, and received a monetary contribution from an estate. The contribution is to be held intact, but earnings are reserved for the purchase of a special collection of historical books for the public library. What governmental funds should be used to account for these items?
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