Question

The City of Tipton received 100 acres of land located in the city limits as a gift from a local property owner for use as a city park. The debit for the entry to record this event in the General Fund should be to:

Answer 1

The debit for the entry to record the gift of 100 acres of land as a city park in the General Fund should be to the Land account.

Step-by-step explanation:

The debit for the entry to record the gift of 100 acres of land as a city park in the General Fund should be to the Land account.