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  3. a private donor made a $500,000 gift to the villag

A private donor made a $500,000 gift to the Village of Golden Ridge in 2022....

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Accounting

A private donor made a $500,000 gift to the Village of Golden Ridge in 2022. The donor stipulated that the gift be invested permanently and that earnings from the gift be used to award college scholarships to the top 10 seniors graduating from the Villages public high school. In which fund type should the Village report the gift?

Permanent fund.

Special revenue fund.

General fund.

None of the above.

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