Transaction

Fund $/$ Governmental

Activties

General Journal

Debit

Credit

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 $$5,200,000$ and was recorded on the donor's books at a historical cost of $$4,500,000.$

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The Public Works Department sold machinery with a historical cost of $$35,100$ and accumulated depreciation of $$28,700$ for $$6,000.$ The machinery had originally been purchased with special revenue funds.

A car was leased for the mayor's use. The first payment was $$1,000$ and the present value of the remaining lease payments was $$29,000.($Note: The initial cash payment was made by the General Fund.$)$

During the current year, a capital projects fund completed a new public safety building that was started in the prior year. The total cost of the project was $$9,720,000.$ Financing for the project came from a $$9,000,000$ bond issue that was sold in the prior year and fron $$720,000$ federal capital