Transaction Fund / Governmental Activties General Journal Debit Credit 1. The city received a donation of land that is to be used by Parks and Recreation to develop a public park. At the time of the donation, the land had an acquisition value of $4,600,000 and was recorded on the donor's books at a historical cost of $3,900,000. 1 General Fund Governmental Activities 2. The Public Works Department sold machinery with a historical cost of $34,500 and accumulated depreciation of $28,400 for $5,600. The machinery had originally been purchased with special revenue funds. 2 General Fund Governmental Activities 3. A car was leased for the mayor's use. The first payment was $1,100 and the present value of the remaining lease payments was $23,000. (Note: The initial cash payment was made by the General Fund.) General Fund 3b Governmental Activities