A county includes debt service in its general fund budget but makes debt service payments using a debt service fund. During the year the debt service fund receives $195000 from the general fund for debt service and makes principal payments of $130,000 and interest payments of $65,000 on general obligation bonds. How much is reported as expenditures in the Gerald fund and debt service fund operating statements?

Answer rating: 100% (QA)

In the debt service fund the 195000 received from the general fund is rep... View the full answer