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 $5,800,000 and was recorded on the donor's books at a historical cost of $5,100,000. 1 General Fund Governmental Activities 2. The Public Works Department sold machinery with a historical cost of $36,000 and accumulated depreciation of $29,600 for $5,850. 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 $1,000 and the present value of the remaining lease payments was $35,000. (Note: The initial cash payment was made by the General Fund.) 3a General Fund