1. Payment of principal and interest on debt is referred to as ________. 2. A periodic transfer...

Question:

1. Payment of principal and interest on debt is referred to as ________.
2. A periodic transfer of resources from the General Fund to a Debt Service Fund is reported as a(n) ________ on the operating statement of the funds.
3. Payment of principal is reported as a(n) ________ on the ________ of a Debt Service Fund.
4. A financial institution that makes principal and interest payments in the name of a governmental unit is called a(n) ____________.
5. A debit balance in Fund balance is called a(n) ____________.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Introduction to Governmental and Not for Profit Accounting

ISBN: 978-0132776011

7th edition

Authors: Martin Ives, Terry K. Patton, Suesan R. Patton

Question Posted: