1. Bond proceeds used to construct a new library should be recorded in:

1. General Fund
2. Special Revenue Fund
3. Capital Projects Fund
4. Internal Service Fund

2. The City of Reagan entered into a contract with Diamond Construction to build a new civic center. The encumbrance will be recorded in:

1. General Fund
2. Permanent Fund
3. Capital Projects Fund
4. Debt Service Fund

3. Principal and interest payments to bond holders are recorded in the:

1. Debt Service Fund
2. Special Revenue Fund
3. General Fund
4. Capital Projects Fund

4. The General Fund made a transfer to the Debt Service Fund for the payment of principal on outstanding general obligation bonds. This transaction requires a journal entry in the:

1. General Fund
2. Debt Service Fund
3. General Fund and Debt Service Fund
4. General Fund, Debt Service Fund, and Special Revenue Fund