a county acquires equipment for $10,000,000 for use for a community project, reported in a special revenue fund. the equipment has a 5-year life, no residual value. after 3 years, the equipment is sold for $1,000,000. straight-line depreciation is used if appropriate. how is the sale reported in the special revenue fund? select one: a. loss on sale, $3,000,000 b. revenue, $1,000,000 c. expenditure, $3,000,000 d. other financing source, $1,000,000
