The General Fund sent $750,000 to a debt service fund to cover principal and interest costs. This
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Question:
The General Fund sent $750,000 to a debt service fund to cover principal and interest costs. This transaction would be recorded in the governmental activities journal as
An inter fund transfer in.
An internal balance.
A revenue.
It would not be recorded since the transaction involves two governmental funds.
Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: 978-1259917059
18th edition
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
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