14) Peking County incurred the following transactions during 2011:
1.Marketable securities were donated to support the county's bike and nature trails. The donor acquired the securities for $35,000 ten years earlier; however, their current market value was $200,000. The donor specified that all income from the securities be used for the trails. The principal is to be held intact for an indefinite period of time.
2.Computer equipment was ordered for general fund departments. The estimated cost was $48,000.
3.The county received the computer equipment. The actual cost was $47,750, of which $42,000 was paid to the vendor before year-end.
4.The county sold a (general government) dump truck that originally cost $55,000. The county sold the truck at auction for $3,300. The book value of the truck at the time of sale was $0.
5.The government leased equipment for the general government under a capital lease agreement. The present value of the minimum lease payments was $120,000. The county made an initial down payment of $10,000.
Prepare journal entries for each of the above transactions. Identify the appropriate fund or funds used by Peking County.