General tax revenues RO 250,000, were paid to the fund to be used to pay principal and interest on the developmental bonds. Which one of the following journal entries records the transfer of fund transaction in the debt service fund? a.Bank Account Dr. 250,000, Transfer from general fund Account Cr. 250,000 b. Loan Account Dr. 250,000, Bank Account Cr. 250,000 c. Bank Account Dr. 250,000, Transfer from debt service fund Account Cr. 250,000 d. None of the options Clear my choice
General tax revenues RO 250,000, were paid to the fund to be used to pay principal and interest on the developmental bonds. Which one of the following journal entries records the transfer of fund transaction in the debt service fund? a.Bank Account Dr. 250,000, Transfer from general fund Account Cr. 250,000 b. Loan Account Dr. 250,000, Bank Account Cr. 250,000 c. Bank Account Dr. 250,000, Transfer from debt service fund Account Cr. 250,000 d. None of the options Clear my choice
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 26E: Sinking Funds Entries The following information is available concerning Nunan Corporations sinking...
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Question
General tax revenues RO 250,000, were paid to the fund to be used to pay principal and interest on the developmental bonds. Which one of the following
a.Bank Account Dr. 250,000, Transfer from general fund Account Cr. 250,000
b.
Loan Account Dr. 250,000, Bank Account Cr. 250,000
c.
Bank Account Dr. 250,000, Transfer from debt service fund Account Cr. 250,000
d.
None of the options
Clear my choice
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