Last month a local government collected property taxes, collected gas taxes reserved for highway expansion, and received
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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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In addition to the General Fund governmental fund categories include special revenue debt service ca...View the full answer
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Related Book For 
Accounting for Governmental and Nonprofit Entities
ISBN: 978-1259917059
18th edition
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
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