Prepare journal entries to records the following transactions of a debt service fund 1. principal of $3,000,000

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Prepare journal entries to records the following transactions of a debt service fund

1. principal of $3,000,000 and interest of $600,000 came due on general obligation bonds, and were paid

2. the dsf received a transfer of unassigned resources from the general fund totalling $6,200,000

3. the city received interest of $250,000 on dsf investments

4. the city collected $3,000,000 from maturing investments

Related Book For answer-question

Governmental and Nonprofit Accounting

ISBN: 978-0132751261

10th edition

Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi

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Posted Date: Jun 23, 2022 06:24 AM

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Prepare journal entries to records the following transactions of a debt service fund 1. principal of $3,000,000

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Answer 1 Dr Debt Service Fund 3000000 Cr Cash 3000000 2 Dr Cash ... View the full answer

Governmental and Nonprofit Accounting

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