1.Assume that the general fund of the city of Troy gives $200,000 to the City’s debt service fund, to let the debt service fund pay for a principal payment on a long-term bond. There is no expectation that the money will ever be paid back to the general fund. The journal entry for the general fund would include a credit to cash, and a debit to

a		Receivable from debt service fund
b		Principal payment expense
c		Principal payment expenditure
d		Other uses of funds – transfer to debt service fund

Answer rating: 100% (QA)

Here we are transferring from Citys General Fund to Ci... View the full answer